BRIEF: OmniVision shares rise 15% through midday in trading debut
Shares of chip designer OmniVision Integrated Circuits Group Inc. (0501.HK) opened up 3% at HK$108 in their Hong Kong trading debut on Monday, and rose steadily to close up 15% at HK$120.70 by the midday break.
The company sold 45.8 million shares for HK$104.80 apiece, raising net proceeds of HK$4.69 billion ($602 million). The public portion of the offering for Hong Kong investors was oversubscribed by 8.3 times, while the international placement was 8.7 times oversubscribed. Ten cornerstone investors purchased 20.7 million shares, representing 45.3% of the global offering.
OmniVision designs chips for advanced digital imaging solutions, display solutions and analog solutions. The company reported revenue of 13.94 billion yuan in the first half of last year, up 15.3% year-over-year, while its profit jumped 48.3% to 2.02 billion yuan.
By Lau Chi Hang
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