Chinese chipmakers Denglin and Xinde make mixed Hong Kong market debuts

Chinese chipmakers Suzhou Denglin Technology and Jiangsu Xinde Semiconductor Technology made mixed debuts on the Hong Kong stock exchange on Tuesday after raising a combined HK$2.36 billion ($301 million) through their initial public offerings (IPOs), Reuters reported.

Shares of artificial intelligence (AI) chip designer Denglin opened at HK$229, 0.9% below their IPO price of HK$231. The stock was last trading at HK$222.40. In contrast, shares of semiconductor packaging firm Xinde opened at HK$10.70, gaining 20.5% over their offer price of HK$8.88, and extended gains to trade at HK$12.02.