Feb 5 (Reuters) - Chinese semiconductor designer Montage Technology 688008.SS determined its offer price for its Hong Kong listing at the top end of its range on Thursday, aiming to raise a total of HK$7.04 billion ($901.21 million).
The company was offering 65.9 million shares at an offer price of HK$106.89 per H share, its maximum offer price announced earlier.
On Tuesday, Reuters had reported Montage was set to price its Hong Kong listing at the top end of the range, valuing the firm at about HK$180.36 billion, citing people with knowledge of the matter.
Proceeds from the offering will be used for commercialisation, strengthening sales and marketing teams, strategic investment, acquisitions and working capital, Montage had said earlier.
The proposed listing comes on the heels of upcoming debuts from printed circuit board $(PCB)$ equipment maker Shenzhen Han's CNC Technology 301200.SZ and China's biggest pig breeder Muyuan Foods 002714.SZ.
Founded in 2004, Montage designs integrated circuits that help to speed data movement in servers and data centres.
The sector has drawn heavy investment as China accelerates its efforts to secure domestic alternatives to high-end chips and manufacturing equipment from the United States, where the government has imposed export restrictions.
Shares of Montage are set to debut on the Hong Kong stock exchange on February 9.
($1 = 7.8117 Hong Kong dollars)
(Reporting by John Biju in Bengaluru; Editing by Shailesh Kuber)
((John.Biju@thomsonreuters.com;))
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