Axera Semiconductor Raises HK$31 Million From Partial Exercise of Overallotment Option in Hong Kong IPO

MT Newswires Live03-09

Axera Semiconductor (HKG:0600) said its underwriters partially exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Saturday, March 7, according to a Sunday filing with the Hong Kong bourse.

Shares of the Chinese AI inference systems-on-a-chip fell over 12% in morning trade Monday.

The firm issued nearly 1.2 million H shares at HK$28.20 apiece for additional net proceeds of HK$31.3 million.

The overallotment option was exercised after around 15.7 million H shares were over-allocated in the international portion of the IPO.

The IPO's underwriters purchased 17.8 million H shares and sold 3.2 million H shares in the open market during the stabilization period.

The number of shares held by the public after the exercise of the overallotment option complied with Hong Kong's listing requirements, the firm said.

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