Montage Shares Jump 57% in Debut After $902 Million Hong Kong Listing

Shares of Montage Technology Co. jumped 64% in their Hong Kong debut on Monday after a share sale that raised $902 million, the biggest opening-day pop for an offering of its size or bigger in five years, showing persistent demand for Chinese artificial intelligence-related stocks.

The chip designer’s stock closed HK$175 after a share sale that was priced at HK$106.89, the top of the offered range range. The company sold 65.9 million shares at that price on Thursday, a 44% discount to the Shanghai-listed stock that closed at 170.90 yuan the previous day.