GigaDevice Semiconductors Make a Stellar Hong Kong Debut

Shares of GigaDevice Semiconductor surged 54% during their Hong Kong trading debut, following a successful HK$4.68 billion second listing. The company plans to use the proceeds for R&D and strategic investments. Founded in 2005, GigaDevice is known for its flash memory, microcontrollers, and chips across various sectors.

GigaDevice Semiconductor's shares soared by 54% in their Hong Kong market debut on Tuesday, following a remarkable HK$4.68 billion ($600 million) raised in a recent secondary listing. Investors showed strong interest, driving shares up to HK$248.8, significantly over the original offer price of HK$162.

Founded in 2005, GigaDevice is a prominent player in the fabless IC design house sector, with a focus on flash memory like NOR, microcontrollers, and other chips. These products have diverse applications across consumer electronics, automotive, industrial automation, and energy storage.

The company announced that funds from this latest share offering will primarily support research and development, with a keen eye on strategic and industry investments, including possible acquisitions. Currently, $1 equals 7.7988 Hong Kong dollars.