Chinese semiconductor company Nexchip Semiconductor announced Wednesday that it intends to raise roughly HK$6.98 billion — equivalent to about $890.37 million — through a share sale in Hong Kong, pricing the offering at the highest point of its range to take advantage of the city’s strengthening financial market.
According to the company’s prospectus, Nexchip is putting 216.2 million shares on the market at a price of HK$32.30 per share.
Of the money raised, the chipmaker plans to direct more than HK$3.5 billion toward research and development efforts. An additional HK$1.5 billion is earmarked for building out artificial intelligence-powered systems designed to connect and streamline the company’s research, development, and manufacturing operations.
The move is part of a broader push among Chinese chipmakers to boost investment in both manufacturing technology and AI, as China’s government works to reduce its reliance on foreign-made semiconductors.
Hong Kong’s stock market has seen a major surge in new listings, with data from LSEG showing that initial public offerings in the first half of 2026 jumped nearly 57% compared to the same period a year ago, reaching roughly $22.45 billion — the strongest start to a year the city has seen in five years.
Nexchip is among a wave of Chinese technology companies taking advantage of Hong Kong’s booming capital markets. Just one day earlier, Luxshare Precision Industry, a supplier to Apple, set the price on its own $3 billion Hong Kong share offering.
Nexchip, which is partially owned by the Chinese government, said it expects to release information on investor demand for its international offering on Thursday. Shares are scheduled to begin trading the following day.
