OmniVision set for Hong Kong debut after HK$4.8 billion offering

HONG Kong is set to add another chip designer to its bourse, as a wave of Chinese artificial-intelligence (AI) companies races to tap capital in the financial hub for expansion.

OmniVision Integrated Circuits Group, which is already listed in Shanghai, will start trading in Hong Kong after raising HK$4.8 billion (S$793 million) in an offering. The shares were priced at HK$104.8 apiece. The stock rose as much as 43 per cent in grey market trading on Friday (Jan 9).

The offer price represents a 29 per cent discount to the Shanghai-listed stock’s on Friday close, compared with an average 19 per cent discount for Hong Kong-listed shares relative to their mainland peers.

OmniVision, formerly known as Will Semiconductor, is a provider of Cmos image sensors, chips that turn incoming light into electrical signals, used in smartphones, automobiles and emerging technologies such as smart glasses and Edge AI. The company was listed as one of the world’s top ten fabless chip designers in 2024 along with global giants including Nvidia, according to a report from research firm TrendForce in 2025.

Beijing’s support for the local semiconductor industry amid the global AI race is encouraging firms to accelerate their fundraising plans, capitalising on recent market momentum. Chinese hardware makers have been particular popular with investors, with Shanghai Biren Technology surging 76 per cent on its debut and Moore Threads Technology jumping multifold.

OmniVision’s offering has drawn support from sovereign wealth funds, including Qatar Investment Authority and GIC, according to IFR. Proceeds raised from the Hong Kong listing will be mainly used in research and development of key technologies, including sensing and display technology as well as analog solutions.

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The chip designer in 2019 acquired Silicon Valley-based OmniVision Technologies, which rivals Sony Group and Samsung Electronics on image sensors. OmniVision Technologies, a former Apple supplier, was delisted from Nasdaq in 2016 with a buyout deal from a group of Chinese investors.

OmniVision reported revenues of 25.7 billion yuan (S$4.7 billion) in 2024 and 13.9 billion yuan in first half of 2025, representing an increase of 23 per cent and 15 per cent from the previous corresponding periods, respectively, according to its prospectus. The growth is driven by a recovery in consumer electronics demand.

The pipeline of listings in Hong Kong is robust, with 11 companies having laid plans to debut in the city this month. About half of those firms are Chinese AI companies. The next one due to trade in Hong Kong is GigaDevice Semiconductor, which is scheduled to list on Tuesday. BLOOMBERG