As 1 mainland Chinese chip IPO soars, another stumbles in busy Hong Kong week

Two mainland Chinese chip suppliers made sharply divergent trading debuts in Hong Kong on Tuesday after raising a combined HK$2.2 billion (US$280 million), underscoring investors’ selective appetite for semiconductor stocks despite a pickup in new listings. Suzhou Denglin Technology, the week’s largest listing, closed 7.7 per cent lower at HK$213 after raising HK$1.4 billion in its initial public offering (IPO). The graphics processing unit maker priced its shares at HK$231 – the bottom of its...