VC-backed Montage raises $71m in US IPO, closes up on first day trading
Montage Technology Group, a China-based semiconductor manufacturer backed by AsiaVest Partners and Intel Capital, saw its stock jump 28% to close at $12.80 on its first day of trading on NASDAQ. It is the second PE-invested Chinese company to go public in the US this year.
Montage's IPO raised $71 million after pricing at $10 per share - below the indicative range of $12-14. The company set its IPO terms in September, planning to sell 7.1 million shares to raise up to $99.4...
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