Key facts
- Suzhou Denglin Technology raised HK$1.4 billion in its Hong Kong initial public offering.
- The graphics processing unit maker priced its shares at HK$231.
- The two chip listings together raised HK$2.2 billion (US$280 million).
Two mainland Chinese chip suppliers made their trading debuts in Hong Kong on Tuesday, raising a combined HK$2.2 billion (US$280 million), according to the Financial Times. The listings produced sharply different first-day receptions, which the report described as a sign of selective demand for semiconductor stocks during a pickup in new listings.
Suzhou Denglin Technology, the larger of the two deals, raised HK$1.4 billion in its initial public offering and priced its shares at HK$231. The graphics processing unit maker fell by as much as 8.6 per cent in morning trade, according to the report.
The report did not give the name of the second chip supplier or the size of its offering, and it did not state the outcome of that listing beyond describing the two debuts as divergent.