This semiconductor company surged 54% upon its listing in Hong Kong

Shares of GigaDevice Semiconductor Inc. increased during its Hong Kong launch, highlighting rising investor interest in Chinese AI-related firms.

As it began trading in Hong Kong on Tuesday, the business—the city's second semiconductor company IPO in as many days—rose as much as 54% to HK$248.80. With shares priced at HK$162 each, it raised HK$4.68 billion ($600 million) in an offering that was 542 times subscribed.

The launch of GigaDevice in Hong Kong coincides with increases in memory chip prices due to shortages, as manufacturers around the world scramble to satisfy the growing demand for AI. It is part of a wave of Chinese tech listings driven by Beijing's efforts to support regional rivals to companies like Micron Technology Inc. and Nvidia Corp.

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GigaDevice, a Beijing-based company, specialises in "niche memory chips." According to a listing document submitted to the Hong Kong stock exchange last year, which cited US consultant Frost & Sullivan, it was the world's second-largest provider of NOR Flash memory for automobiles, industrial automation, and networking

. Additionally, it sells micro control modules, which are used in anything from energy storage devices to consumer gadgets.

GigaDevice’s Hong Kong listing price represented roughly a 45% discount from its A shares, which closed at 261.83 yuan on Monday. The company reported a profit of 588 million yuan in the first half of 2025, an increase of 14% from the previous period, according to the prospectus.