BRIEF: Fortior shares jump in Hong Kong trading debut

1304.HK
688279.SHG

Shares of microchip maker Fortior Technology (Shenzhen) Co. Ltd. (1304.HK; 688279.SH) jumped 16% in their Hong Kong trading debut on Wednesday to close at HK$139.80, as the company became the latest Chinese chip designer to list in Hong Kong. Fortior raised HK$2.26 billion ($288 million) in gross proceeds from the listing, and had a market value of HK$15.2 billion at the end of its first trading day.

The local portion of the listing for Hong Kong investors was 137 times oversubscribed, while the international portion was more than seven times oversubscribed. The company sold 18.7 million shares priced at HK$120.50. The listing complements Fortior’s existing listing on the STAR Market in Shanghai.

The company specializes in brushless DC (BLDC) motor control and driver chips, which are different from traditional motors because they are powered by electromagnetic forces. The company’s annual revenue rose 46% year-on-year to 600 million yuan ($84 million) in 2024, while its profit rose 27% to 222 million yuan.

By Doug Young

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