[HONG KONG] Shares of OmniVision Integrated Circuits jumped 16.2 per cent in their Hong Kong debut on Monday (Jan 12), after the Chinese semiconductor design company raised HK$4.8 billion (S$719.3 million) from a second listing.
Shares of the Shanghai-listed firm opened at HK$108 each, 3.1 per cent higher than its offer price of HK$104.8, before rising further to close at its highest at HK$121.8.
This gives the company a market capitalisation of around HK$152.9 billion.
On the Shanghai bourse, shares of OmniVision ended 1.5 per cent higher at 133.55 yuan (S$24.6) a share, giving it a market capitalisation of about 161.6 billion yuan.
OmniVision is the third-largest digital image sensor provider globally, with a market share of 13.7 per cent based on revenue from digital imaging solutions in 2024, it said in its Hong Kong listing prospectus, citing research and consultancy firm Frost & Sullivan.
The company planned to use about 70 per cent of the listing proceeds for research and development, with the balance for global market expansion, investments and acquisitions, its prospectus said.
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It also revealed that OmniVision’s cornerstone investors include Boyu Capital’s Wildlife Willow, UBS Asset Management Singapore and China Post’s PSBC Wealth Management.
Hong Kong had a resurgence in initial public offerings (IPOs) last year, becoming the world’s top destination for listings.
This was propelled by regulatory changes and pent-up demand from firms seeking access to capital, after years of tough oversight from mainland Chinese authorities.
Around US$37.2 billion was raised from 115 new listings, the most since 2021, data from the London Stock Exchange Group showed.
Shares of MiniMax Group, the second of China’s so-called “AI tigers” to go public, doubled in value at their Hong Kong debut on Friday, and rose another 15.4 per cent on Monday.
Shanghai-listed GigaDevice Semiconductor is scheduled to commence trading in Hong Kong on Tuesday, after having raised HK$4.68 billion from its second offering. REUTERS
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