On June 26, SG Micro (03661.HK) rose 25.23% in regular trading on its first day of listing, trading at HK$105.4/share, with turnover of HK$619 million.

The surge was driven by the company's Hong Kong IPO debut. SG Micro priced its offering at HK$85.20 per H-share and opened at HK$105.1, representing a 23.36% premium. The Hong Kong public offering was oversubscribed approximately 251.73 times with 153,878 valid applications and a one-lot winning rate of 10%. The international tranche was oversubscribed approximately 23.5 times. The company issued 54 million H-shares in total, raising approximately HK$4.5 billion in net proceeds. Pre-listing grey market trading had indicated gains exceeding 40%.

SG Micro is a leading analog integrated circuit design company in China, specializing in high-performance signal chain ICs, power management ICs, and sensors. Its products serve automotive electronics, industrial automation, data centers, and consumer electronics. The company has been listed on the Shenzhen ChiNext board since 2017, and H-shares now trade concurrently on the Hong Kong main board.

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