The successful debuts occurred on a day when the benchmark Hang Seng Index dropped 1.1 per cent and the Hang Seng Tech Index shed 1.2 per cent. Hosin Electronics, a maker of embedded storage, solid-state drives, and DRAM, secured HK$1.07 billion to finance memory solutions and testing infrastructure. Meanwhile, intelligent mobile robotics developer Amicro Technology saw its stock jump over 37 per cent at the open after its retail offering was oversubscribed nearly fourteenfold. Amicro plans to deploy its HK$709.7 million proceeds toward artificial intelligence chips, hardware, software, and sales expansion.
Key points
Both mainland semiconductor firms gained ground on their first trading day despite wider…: Both mainland semiconductor firms gained ground on their first trading day despite wider drops across Hong Kong market indices.
Hosin Electronics will use the majority of its capital to build memory products, controll…: Hosin Electronics will use the majority of its capital to build memory products, controller chips, and enhanced testing facilities.
Amicro Technology is dedicating most of its initial public offering funds toward robotics…: Amicro Technology is dedicating most of its initial public offering funds toward robotics software, hardware, and artificial intelligence chips.
Sources checked by our analysis pipeline: 1
HONG KONG, Nov 12 : Shares of Chinese chipmakers Hosin Electronics and Amicro Technology rose in their Hong Kong debut on Thursday after the companies raised a combined HK$1.78 billion ($227 million) in initial public offerings.
• Hosin opened at HK$72.80, down 0.04 per cent from its offer price of HK$72.83, and last traded at HK$72.90. Amicro opened at HK$13.62, up 37.6 per cent from its HK$9.90 offer price, and last traded at HK$16.81
• Hong Kong's Hang Seng Index slipped 1.1 per cent, while the Hang Seng Tech Index was down 1.2 per cent
• Hosin raised HK$1.07 billion by selling 14.72 million shares at HK$72.83 each. The Hong Kong retail tranche was 2.37 times subscribed and the international offering 1.45 times covered
• Hosin, a developer of memory products including embedded storage, solid-state drives, DRAM and portable storage devices, plans to use most of the proceeds to develop memory products and controller chips and expand testing capabilities, with the remainder earmarked for working capital and general corporate purposes
• Amicro raised HK$709.7 million by selling 71.69 million shares…
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Shares of Samsung Life are experiencing a rally today. Further details regarding the specific drivers, figures, and market factors behind the upward movement have not yet been provided.
Shares of Samsung Life are experiencing a rally today. Further details regarding the specific drivers, figures, and market factors behind the upward movement have not yet been provided.