Chinese chipmakers Montage, Axera file for Hong Kong IPOs – News

Chinese chipmakers Montage Technology Co. and Axera Semiconductor Co. today filed to go public in Hong Kong.

The companies are set to list their shares next month. The public offerings are expected to raise as much as 10 billion Hong Kong dollars, or approximately $1.28 billion.

Montage’s upcoming listing will represent its third stock exchange debut. The Shanghai-based company conducted its initial public offering on the Nasdaq in 2013, when it raised $71 million. Montage went private a year later and subsequently relisted in Shanghai, where it continues to trade today.

The company plans to sell 65.9 million shares on the Hong Kong Stock Exchange for up to 106.89 Hong Kong dollars apiece. That puts it on track to raise the equivalent of $902 million at the top end of the range. In its IPO filing, Montage disclosed that it ended 2024 with a $190 million profit on sales of $512 million.

The company generates much of its revenue from chips that enable the memory modules in a server to exchange data with its central processing unit. Montage’s product lineup includes, among others, PCIe retimers and RCDs. Those are tiny processors that filter errors from the instructions that a server’s CPU sends to the attached memory modules.

RCDs and PCIe retimers are used in different ways. RCDs focus solely on optimizing CPU signals to memory chips, whereas PCIe retimers can process many types of data traffic. The latter chips help improve the quality PCIe links, which are used to connect CPUs with memory, graphics cards and a range of other components.

Montage also competes beyond the interconnect segment. It sells temperature sensors for servers along with power management chips, which optimize the flow of electricity to a computer’s components.

Axera, the other Chinese semiconductor company that filed to go public today, develops artificial intelligence processors optimized for power-efficiency. They’re designed to power advanced driver-assistance systems in vehicles and connected devices. Several of Axera’s chips include central processing cores based on designs from Arm Holdings plc.

The company, which is not yet profitable, generated $38.7 ‍million in revenue during the first nine months of 2025. Axera hopes to raise 2.96 billion Hong Kong dollars, or $379.2 million, in its IPO by selling 104.9 million shares for $28.20 Hong Kong dollars apiece. It will use the proceeds to finance product development and sales initiatives.

Montage and Axera are expected to list their shares on Feb. 9 and Feb. 10, respectively. The companies are going public a few weeks after three Chinese graphics card makers cumulatively raised more than $2 billion in their IPOs.