We advised Montage Technology on its IPO and HKEX listing

Davis Polk advised Montage Technology Co., Ltd., a company whose A shares are listed on the Shanghai Stock Exchange STAR Market, in connection with its global offering in reliance on Rule 144A / Regulation S and listing on the Hong Kong Stock Exchange. The gross proceeds from the offering amounted to approximately HK$7.04 billion. The listing marks the first memory interconnect chip Hong Kong IPO, as well as the largest Hong Kong IPO by a Chinese semiconductor company in the last 20 years.

Montage Technology is a leading global fabless integrated circuit design company focused on offering innovative, reliable and power-efficient interconnect solutions for cloud computing and AI infrastructure. In terms of revenue in 2024, it was the largest memory interconnect chip supplier in the world, with 36.8% market share, according to Frost & Sullivan.

The Davis Polk corporate team included partners Li He, Jason Xu and Ran Li, associates Haiyang Zhao, Calvin Lam and Yi Kai Sit and registered foreign lawyer Kailai (Claire) Xiong. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.

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