Montage Technology(SH:688008) Xin Lang Cai Jing·2026-02-10 12:42Transaction Overview - On February 9, 2026, the company successfully completed its main board listing on the Hong Kong Stock Exchange, with a final pricing of HKD 106.89 per share, achieving the upper limit of the price range [1][21] - The total issuance scale was USD 903 million (pre-greenshoe) / USD 1.039 billion (post-greenshoe), with stock code 6809-HK [1][21] - UBS acted as the joint sponsor, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager for this transaction [1][21] - A strong foundation for the successful issuance was established by high-quality cornerstone investors, totaling 17 investors with a combined scale of approximately USD 450 million (about 43% of the post-greenshoe issuance) [1][21] Transaction Highlights - This transaction marks UBS's 14th equity capital market project in Greater China in 2026 and is the largest IPO for a Chinese semiconductor company in the Hong Kong market in nearly 20 years, as well as the largest fabless semiconductor company listing to date [2][24] - The high-quality cornerstone investor lineup reflects investor recognition of the company's fundamentals, market position, and attractiveness, including strategic investors like Alibaba, Yunfeng, and UBS Asset Management [2][24] - The transaction received widespread market interest, achieving multiple orders from sovereign funds, international long-term, and Chinese funds immediately after the bookbuilding started, with a final oversubscription of 37.67 times for the international offering [2][24] About the Company - The company is a global leader in fabless integrated circuit design, focusing on providing innovative, reliable, and energy-efficient interconnect solutions for cloud computing and AI infrastructure [3][26] - Its main products include interconnect chips, such as memory interconnect chips and PCIe/CXL interconnect chips, applicable in a wide range of end-user scenarios including data centers, servers, and computers [3][26] - According to Frost & Sullivan, the company is projected to be the largest supplier of memory interconnect chips globally by revenue in 2024, with a market share of 36.8%, and is the second-largest supplier of PCIe Retimer chips [3][26] UBS Global Investment Banking Division - The Vice Chairman of UBS's Asia Pacific region expressed honor in participating as a joint sponsor and coordinator for the company's USD 1.039 billion Hong Kong listing, highlighting it as the largest fabless semiconductor IPO in the Hong Kong market to date [4][28] - The transaction received active participation from global investors and achieved multiple oversubscriptions, showcasing international investors' high recognition of Chinese high-tech companies [4][28] Industry Context - The semiconductor industry has garnered widespread investor attention, with UBS being appointed as a sponsor for semiconductor IPO projects in the Hong Kong market this year, including companies like OmniVision and the company [5][29] - The company is viewed positively within the context of the Chinese semiconductor industry and its potential to serve global markets, with expectations for more high-quality semiconductor projects to emerge in the future [5][29]