Hefei-based contract chipmaker Nexchip Semiconductor Corp. raised about US$891 million in a Hong Kong share sale on July 10.

The company sold 216.2 million shares at HK$32.30 (US$4.10) each, the top of its indicated range, as Hong Kong IPOs have raised more than US$30 billion so far in 2026.

The offer price was 57% below Nexchip’s Shanghai closing price on July 9.

On July 10, its Hong Kong shares rose as much as 14%, while its Shanghai-listed shares fell as much as 12%.

Founded in 2015 as a joint venture between government-backed investors in Hefei and Taiwan’s Powerchip Semiconductor Manufacturing Corp., Nexchip makes chips designed by other companies rather than its own.

It focuses on mature-node manufacturing rather than leading-edge chips, with services covering processes from 150 nanometers to 40 nanometers.

The company said the proceeds will mainly fund technology upgrades, including research and development for a next-generation 22-nanometer platform, and AI-enabled research and manufacturing initiatives.

🔗 Source: Bloomberg

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