Montage Technology (06809) will be holding its IPO from January 30 to February 4, and is expected to be listed on February 9th.

Montage Technology (06809) conducted its initial public offering from January 30 to February 4, 2026. The company plans to globally offer 65.89 million shares, with 10% allocated for sale in Hong Kong and 90% for international sale. There is also a 15% overallotment option, and the offering price will not exceed HK$106.89 per share. Trading of the shares is expected to commence on the Hong Kong Stock Exchange on February 9, 2026. The company is a leading global fabless integrated circuit design company, focusing on providing innovative, reliable, and highly efficient interconnect solutions for cloud computing and AI infrastructure. The company supplies interconnect chips to industry-leading customers, including memory interconnect chips and PCIe (Peripheral Component Interconnect Express)/CXL (Compute Express Link) interconnect chips, serving a wide range of applications in data centers, servers, and PCs. According to Frost & Sullivan, the company ranked as the world's largest memory interconnect chip supplier by revenue in 2024, with a market share of 36.8%. The company offers a full range of DDR2 to DDR5 memory interface chips and DDR5 companion chips, including SPD (Serial Presence Detect), TS (Temperature Sensor), and PMIC (Power Management Integrated Circuit) chips. The company's DDR5 memory interface chips are crucial interconnect components between the CPU and DRAM modules in servers, enabling stable transmission of high-speed data. The company's new interconnect chips (including MRCD/MDB, CKD, PCIe Retimer, and CXL MXC) aim to further enhance the reliability and efficiency of data transmission in AI servers and PCs. The company currently has two major product lines: interconnect chips and Jin-Di products. The company's interconnect chips mainly include memory interface chips, memory module companion chips, PCIe/CXL interconnect chips, and clock chips. The company's Jin-Di products mainly consist of Jin-Di CPUs. The table below outlines the company's products, their functions, and applications. The company has entered into cornerstone investment agreements with JPMIMI, UBS AM, Alisoft China, Aspex, Janchor Fund, abrdn Asia, Ba Ling, Mirae Asset, AGIC, Hel Ved, Huawei Technology, China Post Wealth Management, Taikang Life Insurance, MY Asian, and Qube, with the cornerstone investors agreeing, subject to various conditions, to subscribe to or cause designated entities to subscribe to a total amount of US$450 million at the international offering price. The company estimates that after deducting underwriting commissions, expenses, and estimated expenses payable for the global offering, it will receive a net amount of approximately HK$6.905 billion, assuming no exercise of overallotment option and an offering price of HK$106.89 per share. Approximately 70.0% will be used for research and development in the interconnect chip field over the next five years to enhance the company's global leading position and seize opportunities in cloud computing and AI infrastructure. Approximately 5.0% will be used to improve the company's commercial capabilities. Approximately 15.0% will be used for strategic investments and/or acquisitions to achieve the company's long-term growth strategy. Approximately 10.0% will be used for working capital and general corporate purposes.