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Montage Technology listed at Nasdaq

2013-10-12 13:50

Montage Technology (Shanghai) Co Ltd (stock code MONT), a graduate of the Caohejing Innovation Center, was listed at the US Nasdaq Stock Exchange on September 26 with its IPO price for $10.

It aims to finance $71 million with its stock price increased by 28 percent on the first day to reach $12.8 per share, said a senior manager from the company.

“The event is a success the center has achieved after several years of strenuous efforts and also an encouragement to its service team,” said a center manager.

“We believe more ‘golden phoenixes’ will fly out of the center in the future,” the manager said.

Montage Technology was set up by Howard C. Yang in May 2004 to develop the digital market for families and enterprises.

It gained an investment of $10 million from the Intel Technology Fund and the Yongwei Investment Company in June 2006. It purchased the Motorola chip design section in Hangzhou in August 2011 and was authorized to get all Motorola’s related chip technology, said the manager.

Yang, together with his team, created the Newave Technology Co at Caohejing in 2001, which was, later on, purchased by IDT, a well-known semiconductor company in the United States.

He resigned his post of general manager in the Newave Technology Co in 2004 and established Montage Technology at the park.

“Caohejing has provided high quality service for us to create business,” he said, adding that the services were involved in human resources, loans, project application and IPR protection.

The park’s financing platform, he said, has also given the company a 20 million yuan unsecured short-term loan, financing the company’s development.

 

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