Montage Technology plans up to $1 billion Hong Kong share sale in January, sources say

Group 1 - Montage Technology plans a second listing in Hong Kong with a share offering between $800 million to $1 billion, potentially becoming the largest deal in the city since Zijin Gold International's $3.53 billion listing in September [1][2] - The listing is expected to take place on January 26, following the company's successful hearing at the Hong Kong stock exchange [2] - The surge in AI and chip IPOs in Hong Kong and mainland China is driven by Beijing's efforts to enhance domestic capabilities and reduce reliance on U.S. technology [2][3] Group 2 - Montage Technology, founded in 2004, specializes in designing fabless integrated circuits for data flow in servers and data centers, with a current market cap of approximately $22 billion [4] - The company reported a 59% revenue increase from 2023 to 2024, reaching 3.64 billion yuan ($521.27 million), with a net profit of 1.34 billion yuan and a gross margin exceeding 58% [5] - Montage Technology holds a 36.8% share of the global memory interconnect chip market in 2024, according to a draft prospectus [5] Group 3 - Proceeds from the upcoming listing will be allocated to enhance research and development in interconnect chips, invest in marketing, and pursue strategic investments [6]