Stock Track | Montage Technology Plummets 5.06% Intraday Following Full Exercise of Over-Allotment Option

Stock Track02-11

Montage Technology's stock price fell sharply by 5.06% during intraday trading on Wednesday. The significant drop occurred as the market reacted to news of share dilution from a recently exercised over-allotment option.

The company announced that the overall coordinators, acting on behalf of the international underwriters, fully exercised the over-allotment option. This involves a total of 9.8835 million H shares to be issued at a price of HKD 106.89 per share, representing approximately 15.0% of the total shares available under the global offering prior to the exercise.

The additional share issuance increases the company's total share capital and brings in approximately HK$1,043.2 million in net proceeds after deducting underwriting fees and expenses. The market typically views such dilutive events with caution, as they increase the number of shares outstanding and can create selling pressure when new shares enter the market.

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