China's GigaDevice Semiconductor Stock Soars 36% in HK Grey Market
China's GIGADEVICE stock soared 36% in HK grey market on Monday.
Shanghai-listed GigaDevice's Hong Kong Stock Exchange debut comes as Chinese artificial intelligence and chip companies seek to raise funds in Hong Kong's booming IPO market.
Hong Kong saw a resurgence in IPOs last year, becoming the world's top destination for listings, propelled by regulatory changes and pent-up demand from firms seeking access to capital after years of tough oversight from Chinese authorities.
Around $37.2 billion was raised from 115 new listings, the most since 2021, according to LSEG data.
Shares of MiniMax Group, the second of China's so-called "AI tigers" to go public, doubled in value at their Hong Kong debut on Friday.
Semiconductor specialist OmniVision Integrated Circuits is due to commence trading in Hong Kong next week.
GigaDevice said it expects to begin trading on the Hong Kong Stock Exchange on January 13.
Recommended Articles
Comments (0)
Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.