Pillsbury Advises Deutsche Bank and Barclays on $115 Million IPO for Montage Tech Group

The IPO for Montage opened for trading on The NASDAQ Stock Market on September 26, 2013 at $10 but saw its shares rise by 50 percent 24 hours later to $15.24. Of the 7.1 million ordinary shares being offered, 1.78 million are offered by certain selling shareholders.

Nelson Griggs, Senior Vice President at NASDAQ OMX, noted in a press release, “Montage Technology has become one of the foremost providers of semiconductor solutions for home entertainment and cloud computing markets.” Griggs added that he “looks forward to their continued success.”

Montage’s products are often used in set-top boxes, optimizing broadcast signal processing, and in memory-intensive server applications. It will use the funds to supply working capital to its four subsidiaries outside China, pay overseas suppliers, and fund operational expansion and future acquisitions.

Pillsbury corporate and securities partner James Masetti and counsel Heidi Mayon are representing the underwriters in the offering, including lead underwriters Deutsche Bank Securities and Barclays Capital.

Between 2006 and 2010, Pillsbury helped take more than 20 Chinese companies public and represented approximately 30 that were publicly traded in the U.S. Since 2010, Masetti has led the firm’s representation on two traditional IPOs for Chinese companies: BCD Semiconductor Manufacturing Limited and now, Montage.

Masetti and Tom Shoesmith, wrote in a recent client alert, “The U.S. capital markets—the largest in the world—have been all but closed to Chinese companies for more than two years. The successful IPO of Montage Technology, and e-commerce giant Alibaba’s announcement that it will seek a U.S. listing, may signal the long-awaited re-opening of the U.S. capital markets to Chinese companies.”