SINGAPORE, Jan 12 () – OmniVision Integrated Circuits shares climbed up to 6.7% during their Hong Kong debut on Monday, following the Chinese semiconductor design firm’s successful raising of HK$4.8 billion ($615.91 million) through a secondary listing.
The company listed in Shanghai started trading at HK$108 per share, which was 3.1% above its offering price of HK$104.80, and then increased to HK$111.80. The offering price resulted in a market value of approximately HK$131.7 billion ($16.9 billion).
At the Shanghai stock exchange, OmniVision’s shares increased by 0.6% to 132.26 yuan ($18.96) each, resulting in a market value of approximately 159 billion yuan ($22.8 billion).
OmniVision ranks as the third-largest manufacturer of digital image sensors worldwide, holding a 13.7% revenue-based market share in the digital imaging solutions sector in 2024, according to its prospectus for the Hong Kong stock exchange, which referenced data from research and consulting company Frost & Sullivan.
It intended to allocate roughly 70% of the listing funds toward research and development, with the remaining portion designated for global market growth, investments, and acquisitions, according to its prospectus.
Its key investors include Wildlife Willow from Boyu Capital, UBS Asset Management Singapore, and PSBC Wealth Management from China Post, as stated in its prospectus.
Last year, Hong Kong experienced a revival in initial public offerings, emerging as the global leader for new listings. This was driven by changes in regulations and accumulated demand from companies aiming to secure funding after prolonged strict supervision by mainland Chinese authorities.
Approximately $37.2 billion was collected through 115 new listings, marking the highest amount since 2021, as reported by LSEG data.
Stocks of MiniMax Group, the second “AI tiger” from China to make its public debut, saw their value double on their Hong Kong listing on Friday, and increased by an additional 9% on Monday.
GigaDevice Semiconductor, listed in Shanghai, is set to begin trading in Hong Kong on Tuesday, following its second offering that generated HK$4.68 billion.
($1 = 6.9772 Chinese yuan)
($1 = 7.7939 Hong Kong dollars)
(Produced by Yantoultra Ngui in Singapore and Yiming Shen in Shanghai; Edited by Christian Schmollinger and Muralikumar Anantharaman)