Axera Semiconductor Gains in Hong Kong Debut Amid Chip IPO Surge

Market Performance and Valuation

The company, which specializes in visual artificial intelligence inference chips for smart vehicles and on-device computing, priced its offering of 104.9 million shares at HK$28.20 each. The early trading gains surpassed the benchmark Hang Seng Index, which rose 0.9% in the same period, signaling strong investor appetite for mainland China’s emerging semiconductor leaders.

A Wave of Semiconductor Listings

Axera’s entry follows a broader trend of Chinese semiconductor firms tapping the Asian financial hub for capital. Earlier this week, Shanghai-listed Montage Technology successfully raised approximately US$900 million through a secondary listing in Hong Kong. This momentum is expected to continue as other major players prepare for their own market debuts:

• Kunlunxin: Baidu’s specialized chip division targeting AI workloads.
• Enflame Technology: One of China’s high-growth GPU developers.
• Montage Technology: A memory interface specialist seeking global capital.

The flurry of activity highlights Hong Kong's recovery as a primary listing venue. According to data from Hong Kong Exchanges & Clearing, the city raised HK$285.8 billion through listings in 2025, more than tripling the previous year's total as the tech sector leads a regional fundraising resurgence.