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China's OmniVision Integrated Circuits sets HK listing price at top end, raises $616 million

FILE PHOTO: FILE PHOTO: Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong · Reuters

Jan 8 (Reuters) - China's OmniVision Integrated Circuits said on Thursday that it ​had set the offer price for ‌its Hong Kong listing at HK$104.80 per H ‌share, raising HK$4.80 billion ($616.1 million).

The pricing was at the top end of its earlier marketed range.

The Shanghai-listed semiconductor designer, which ⁠was offering ‌about 45.8 million shares in the Hong Kong listing, expects to ‍begin trading on the Hong Kong Stock Exchange on January 12, it said in a ​filing.

The uptick in listings by Chinese ‌technology firms reflects a broader policy drive by Beijing to fast-track approvals for artificial intelligence and semiconductor companies, strengthening home-grown alternatives to advanced U.S. technology and ⁠drawing a wave of ​issuers across the tech ​sector.

Earlier on Thursday, AI firm Zhipu AI, chipmaker Shanghai Iluvatar CoreX ‍and surgical ⁠robotics company Shenzhen Edge Medical all jumped in their trading debuts after ⁠raising a combined $1.19 billion.

($1 = 7.7907 Hong Kong dollars)

(Reporting ‌by Roshan Thomas in Bengaluru; Editing ‌by Rashmi Aich)

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