Suzhou Denglin Technology saw its stock slide to HK$215 after pricing its shares at HK$231, reflecting subdued demand that covered its retail offering only 2.11 times. Meanwhile, Jiangsu Xinde Semiconductor Technology surged well past its HK$8.88 offer price to reach HK$10.88 following strong retail oversubscription of 9.84 times. The packaging provider, which issued 106.56 million shares to raise HK$946.3 million near the bottom of its HK$8.60 to HK$9.60 pricing range, intends to use the capital to increase manufacturing capacity.
Key points
Denglin plans to allocate the majority of its IPO proceeds toward upgrading artificial in…: Denglin plans to allocate the majority of its IPO proceeds toward upgrading artificial intelligence products and expanding research and development.
Xinde intends to direct its new capital toward developing advanced packaging technologies…: Xinde intends to direct its new capital toward developing advanced packaging technologies and boosting overall production capacity.
Both listings coincided with general market strength reflected across the Hang Seng Index…: Both listings coincided with general market strength reflected across the Hang Seng Index and the Hang Seng Tech Index.
Sources checked by our analysis pipeline: 1
HONG KONG, Nov 10 : Chinese chip firms Suzhou Denglin Technology and Jiangsu Xinde Semiconductor Technology made contrasting Hong Kong market debuts on Tuesday after raising a combined HK$2.36 billion ($301 million) in initial public offerings.
• AI chip designer Denglin opened at HK$229, 0.9 per cent below its offer price of HK$231, and was last trading at HK$215. Semiconductor packaging firm Xinde opened 20.5 per cent above its offer price of HK$8.88 at HK$10.70 and was last at HK$10.88
• Hong Kong's Hang Seng Index rose 0.3 per cent, while the Hang Seng Tech Index was up 0.7 per cent
• Denglin raised HK$1.41 billion after pricing its offering at the bottom of the marketed range. Its retail tranche was 2.11 times subscribed, while the international tranche was 1.34 times covered
• Denglin, which makes graphics processing units (GPUs), chips used in artificial intelligence computing, plans to spend most of the IPO proceeds to upgrade its existing GPU products and develop new products and software tools
• "We will continue to increase research and development investment, advance the commercialisation…
Market activity shows Ferrexpo equity facing downward pressure during today's trading session. Current reporting indicates that trading movement remains negative while additional details concerning the slide have not yet emerged. Observers await further updates to understand the specific drivers behind this downward performance.
Regional market participants drove strong momentum across domestic equities, pushing the Jakarta exchange into firmly positive territory by the closing bell. This solid upward push reflects sustained buying interest throughout the daily trading session. The performance demonstrates continued strength for local shares as market activities wrapped up for the day.