Chinese Chip Designer Montage Seeks Up to $902 Million in Hong Kong Listing

Chinese chip designer Montage Technology Co. is seeking to raise as much as HK$7 billion ($902 million) from its Hong Kong listing, adding to what has been the busiest start to the year ever for maiden share sales in the Asian financial hub.

The Shanghai-based company is offering about 65.9 million shares at up to HK$106.89 apiece, according to a listing document dated Friday. That reflects a discount of at least 41% to the company’s last closing price of 162.18 yuan in Shanghai, where its shares have already been traded.