Semiconductor firm's IPO share price sets STAR record
Beijing Huafeng Test & Control Co aims to raise up to 1 billion yuan (US$140 million) through an initial public offering on the SSE STAR market.
Online subscription for the offering is now open to investors at a price of 107 yuan per share, with a cap of 3,500 shares per account.
Huafeng Test & Control was one of the earliest companies to enter the semiconductor testing equipment industry in China. It focuses on analog and mixed signal testing equipment. Its products are not only sold on the Chinese mainland, but also exported to markets like Taiwan, the United States, Europe, South Korea and Japan.
The company's IPO share price is a record for the growth-oriented STAR Market, where prices between 10 and 30 yuan are more typical.
Before the company’s IPO, semiconductor makers AMEC and Montage also listed on the STAR, each of which has a market value over 100 billion yuan.