NEXCHIP's stock price soared 12.45% in intraday trading, marking a strong debut on the Hong Kong Stock Exchange.
The semiconductor foundry commenced trading on the Hong Kong bourse after pricing its initial public offering at the upper limit of HK$32.30 per share. The company raised approximately HK$6.78 billion in net proceeds from the IPO, which saw overwhelming investor demand with the Hong Kong public offering oversubscribed by 344.26 times and the international offering oversubscribed by 14.62 times.
NEXCHIP is a leading pure-play 12-inch wafer foundry, ranking as the ninth-largest globally and third-largest in mainland China by revenue. The strong market reception reflects investor confidence in the company's position within the global semiconductor value chain and its growth prospects in the foundry market.