Shares of Chinese chip designer Montage Technology soared on Monday following the company’s IPO, the latest sign of Hong Kong’s market rebound.
The city’s outlook as a global business hub was gloomy a couple of years ago, after a tighter Chinese regulatory environment chilled IPO activity. But more companies and capital are now flocking to Hong Kong: Swiss agricultural chemicals firm Syngenta is reportedly eyeing a public listing there, potentially the city’s largest in years.
High-tech innovation out of the mainland is central to the revival. Beijing has prioritized technological self-sufficiency, boosting domestic chip companies. Chinese robotics firms are also gearing up for a wave of Hong Kong IPOs, industry analysts say.