Semight Instruments plans Hong Kong IPO after Shanghai listing rose 22-fold in April

Semight Instruments, a Chinese semiconductor test equipment manufacturer, is planning a secondary listing in Hong Kong after its shares rose as much as 22-fold following its April listing in Shanghai, Bloomberg reported.

The company raised 2.1 billion yuan (HK$2.43 billion) when it was listed on the Shanghai Stock Exchange STAR Market in April and has since seen its shares rise by as much as 2,200 percent. Its market capitalization is nearly 199 billion yuan.

Founded in 2017 and headquartered in Suzhou, China, the company specializes in research, development, and manufacturing across four primary sectors: high-speed optical communications, optical chips, general electronic measurement, and power semiconductor devices.

Semight Instruments has not responded to Bloomberg's inquiries about the listing.

The report also noted that this stock issuance will continue the wave of mainland artificial intelligence supply chain companies listing in Hong Kong, and Hong Kong's IPO activity this year is expected to hit a six-year high. 

However, companies planning to go public must face market volatility amid concerns that the AI sector's investment frenzy may be unsustainable.

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