Beijing-based Ingenic Semiconductor has launched a Hong Kong share offering to raise up to HK$3.22 billion (US$410.4 million), joining a growing wave of mainland Chinese chipmakers tapping the city’s capital markets to fund international expansion.
The company, which has been listed on Shenzhen’s ChiNext board since 2011, is offering 31.29 million H shares priced at up to HK$102.80 each, according to a filing. The shares were expected to start trading on August 25 under the stock code 3223, with Guotai Junan International named as the sole sponsor.
Ingenic’s Hong Kong listing and use of proceeds
Ingenic said it planned to allocate about half of the proceeds to innovation and product development across its core memory, computing and analogue chip lines. Around 25 percent would be set aside for strategic investments and acquisitions, while 15 percent would be earmarked to expand its sales network and promote products.
The listing reflects renewed investor momentum in the semiconductor sector, the company said, fuelled by a recovery in chip demand and Beijing’s push for semiconductor self-sufficiency. Ingenic follows domestic peers such as GigaDevice and Montage Technology, which have turned to Hong Kong to broaden their global investor base and support artificial intelligence- and automotive-driven growth.
Founded in 2005, Ingenic operates on a fabless business model, designing chips for automotive electronics, industrial equipment, medical devices and smart security systems. In 2020 the company expanded its footprint by acquiring Silicon Valley-based Integrated Silicon Solution Inc, bringing automotive-grade memory products into its portfolio.
