SICC (HKG:2631) said its underwriters fully exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Sunday, Sept. 14, according to a same-day filing with the Hong Kong bourse.

Shares of the semiconductor material company gained nearly 7% in morning trade on Monday.

The company will issue 7,161,800 H Shares at HK$42.80 apiece for additional net proceeds of HK$299.6 million.

The overallotment option was exercised after 7,161,800 H shares were over-allocated in the international portion of the IPO.

No H shares were purchased from the open market during the stabilization period.

The number of shares held by public after the exercise of the overallotment option amounted to approximately 11.38% of the total issued share capital of the company, meeting Hong Kong's amended listing requirements of at least 10%.