Data layers Raw facts Calculated Model prediction AI interpretation

Allotment Overview Calculated

Total Subscription Fees vs Public Offering Raise Amount

Subscription Tier Analysis Model prediction

Expected Lots Allotted by Subscription Tier

Pool A applications , Pool B applications . Expected lots allotted = "Approximate percentage of total shares applied for" as stated in the allotment announcement × shares applied ÷ lot size, taken directly from the announcement.

Capital Efficiency by Subscription Tier

Capital efficiency = Expected shares allotted ÷ shares applied × 100, i.e. the original "Approximate percentage of total shares applied for" value from the allotment announcement. The fewer shares applied for, the higher the capital efficiency.

Applicant Distribution by Subscription Tier

The vertical axis uses a logarithmic scale to better observe distribution differences across tiers of varying magnitudes. All four charts share the same x-axis; hover tooltips are synchronized.

Subscription Fee ÷ Allotted Market Value by Tier

Allotted market value = valid applicants × shares applied × (percentage applied for ÷ 100) × offer price; total handling fees = valid applicants × HKD 100; ratio = total fees ÷ allotted market value × 100%. Lower tiers have disproportionately high ratios due to very small allotments; ratios stabilize at higher tiers.

Allotment Results Subscription Tier List

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International Offering Raw facts

37.67
International oversubscription
412
Placee count
18
Cornerstone investors
394
Anchor investors

Cornerstone investors

Name Shares allotted % of global offering % of post-IPO shares Lock-up
JPMIMI 4,814,800 7.31% 0.40% 6 months
UBS AM 4,814,800 7.31% 0.40% 6 months
New Alternative 3,282,800 4.98% 0.27% 6 months
New Golden Future 1,532,000 2.33% 0.13% 6 months
Alisoft China 4,012,400 6.09% 0.33% 6 months
Aspex 3,064,000 4.65% 0.25% 6 months
Janchor Fund 3,064,000 4.65% 0.25% 6 months
abrdn Asia 1,386,100 2.10% 0.11% 6 months
霸菱 1,094,200 1.66% 0.09% 6 months
Mirae Asset 1,094,200 1.66% 0.09% 6 months
AGIC 729,500 1.11% 0.06% 6 months
Hel Ved 729,500 1.11% 0.06% 6 months
华勤通讯 729,500 1.11% 0.06% 6 months
Huadeng Technology 583,600 0.89% 0.05% 6 months
中邮理财 583,600 0.89% 0.05% 6 months
泰康人寿 583,600 0.89% 0.05% 6 months
MY Asian 364,700 0.55% 0.03% 6 months
Qube 364,700 0.55% 0.03% 6 months

International concentration

Rank % of international placing % of global offering
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AI AI Analysis AI interpretation deepseek-v4-pro · AI-generated
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The following content is generated by an AI model based on historical IPO data. It does NOT constitute investment advice, solicitation, or recommendation. Past subscription patterns and post-listing performance do not guarantee future results. Data may contain inaccuracies — always verify against official HKEX filings and prospectuses before making any investment decision.

Market Sentiment

The IPO of 澜起科技 received overwhelming demand with an oversubscription ratio of 707.3x, indicating strong investor enthusiasm. Despite the high entry threshold of HKD 10,689, the hit rate stood at just 21.62%, reflecting fierce competition for limited shares. The final offer price of HKD 106.89 presumably sat at the upper end of the range given the demand, though exact range not provided. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

A notable anomaly appears in the A-tail and B-head tiers: applicants in the A-tail (40,000 lots) expected 0.8 lots, while B-head (50,000 lots) buyers expected only 0.675 lots, meaning the higher-investment B-head tier yielded fewer shares on average. This inefficiency suggests that the clawback and reallocation (机制B-无回补) may have distorted allocation ratios between Pools A and B, making the A-tail slightly more efficient despite the larger bet. Broker fee costs per lot would also favor the A-tail. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Broker fee structures vary and actual costs may differ. Not financial advice.)

Demographics

Demographic data for this IPO is unavailable in the provided dataset, as mainland_pct and hk_pct are both recorded as 0. Without breakdowns of applicant origin, gender, or regional concentration, no patterns can be inferred. Investors should refer to the official HKEX filings for a complete picture. (This is AI-generated commentary based on historical data. Data may be incomplete; verify with official sources. Not financial advice.)

About this page

This page shows allotment analysis for Montage Tech (06809): one-lot hit rate, Pool A/B allotment distribution, oversubscription multiple, and grey-market and first-day performance. Data is parsed from the HKEX allotment results announcement. How allotment rates and clawback work is explained in How Hong Kong IPO Allotment Rates Work.

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