July 8 (Reuters) – China’s Nexchip Semiconductor said on Wednesday it aims to raise around HK$6.98 billion ($890.37 million) in its Hong Kong share sale by pricing the offering at the top end of its range to benefit from the city’s revitalised capital market.
The chipmaker is offering 216.2 million shares at HK$32.30 per share, as per its prospectus.
The company plans to spend over HK$3.5 billion from the proceeds on research and development, and another HK$1.5 billion in AI-powered systems to integrate research, development, and production processes.
Chinese chipmakers are stepping up investment in manufacturing technology and artificial intelligence as Beijing pushes for greater semiconductor self-sufficiency.
New listings in Hong Kong have soared nearly 57% in the first half of 2026 from a year earlier to about $22.45 billion, marking the busiest start to a year for the city in five years, according to LSEG data.
Chinese technology firms have been tapping Hong Kong’s red-hot capital markets, with Apple supplier Luxshare Precision Industry pricing a $3 billion Hong Kong share sale a day earlier.
Nexchip, a partially state-owned firm, said it expects to announce the level of investor demand for its international offering on Thursday, with trading of its shares set to begin the following day.
($1 = 7.8394 Hong Kong dollars)
(Reporting by Rajasik Mukherjee; Editing by Leroy Leo)
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