NextFin News — Capital expansion plans for Nexchip Semiconductor Corporation took a major step forward on Tuesday as the pure-play foundry officially initiated its global initial public offering on the Main Board of the Hong Kong Stock Exchange. The chipmaker aims to issue 216,167,000 H-shares to construct a robust "A+H" dual-listing framework.
Regulatory documents filed by the Shanghai STAR Market-listed company cap the maximum offering price at HK32.30 per share. This puts the Hefei-based manufacturer on track to secure up to HK6.98 billion (approximately $894 million) in gross proceeds. Out of the total float, the underwriters have earmarked 21,616,700 H-shares for the localized Hong Kong retail subscription segment, while distributing the remaining 194,550,300 H-shares to the international institutional placement component. A standard 15% over-allotment option has also been built into the deal structure. Retail applications will wrap up next week, setting the stage for secondary market trading to formally commence on July 10, 2026.
This offshore listing represents a broader strategic push by mature-node Chinese foundries to deepen their cross-border liquidity and diversify their balance sheets. As a dominant manufacturer of 12-inch wafers for Display Driver ICs (DDICs) and CMOS image sensors, Nexchip is positioning this new capital vehicle to fund its ongoing migration into advanced automotive electronics and high-margin 55nm and 40nm process nodes. For international asset managers, the Hong Kong vehicle offers a highly liquid entry point to track underlying semiconductor self-sufficiency trends on the Chinese Mainland without navigating onshore foreign exchange restrictions.
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