Chinese lithography and integrated circuit manufacturer Circuit Fabology Microelectronics Equipment (CFMEE) is set to launch a Hong Kong listing next week, as China continues its drive for semiconductor self-sufficiency amid US sanctions.
The company, based in Hefei, Anhui province, said on Wednesday that it would offer more than 12.8 million H shares globally at a price range of HK$240.09 to HK$252.73 apiece, raising up to HK$3.2 billion (US$410 million).
The offer period will run until next Tuesday, with trading expected to begin on the Hong Kong stock exchange on June 26.
The IPO in Hong Kong has attracted 17 cornerstone investors, which have subscribed for at least 43 per cent of the offer. They include entities affiliated with the Hefei municipal government, JPMorgan Asset Management (Asia-Pacific), and HHLR Advisors under Hillhouse Investment.
CMFEE, which listed on Shanghai’s Star Market in 2021, saw its A shares close 2.6 per cent higher at 475.77 yuan on Wednesday after rising as much as 493 yuan in intraday trading.
According to its prospectus, 27 per cent of the iPO proceeds would be used for strategic investments and acquisitions to “strengthen [its] position across the industry value chain”. A further 25 per cent would be allocated to research and development, while 18 per cent was earmarked for production capacity expansion.
Read the full article at South China Morning Post →📄Source document: CFMEE Prospectus
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South China Morning PostParty-alignedCenter4 days agoCircuit Fabology Microelectronics Equipment (CFMEE), a Chinese manufacturer of lithography and integrated circuits, plans to conduct an initial public offering (IPO) in Hong Kong, aiming to raise up to HK$3.2 billion (US$410 million). The company, based in Hefei, Anhui province, will issue over 12.8 million H shares at a price range of HK$240.09 to HK$252.73. The IPO has attracted 17 cornerstone investors, including entities linked to the Hefei municipal government and international investment firms. Proceeds will be allocated toward strategic investments, R&D, and production capacity growth.
Bias read (Center): The article provides factual details about the IPO without overtly favoring any political stance. It reports on financial figures, investor participation, and allocation of funds without using biased language or omitting key perspectives.
Official sources cited
- press release CFMEE Prospectus
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