Ingenic Semiconductor Launches HK IPO to Raise Up to HK$3.22 Billion
Ingenic Semiconductor, based in Beijing, has initiated a share offering in Hong Kong aiming to secure as much as HK$3.22 billion (US$410.4 million). This move aligns with a trend of mainland Chinese semiconductor firms seeking capital in the city to facilitate their global growth. The company, which has been listed on Shenzhen's ChiNext board since 2011, plans to offer 31.29 million H shares at a maximum price of HK$102.80 each, as noted in a filing on Monday. Trading is set to commence on August 25 under stock code 3223, with Guotai Junan International acting as the sole sponsor. Ingenic intends to allocate 50% of the funds for innovation and product development, 25% for strategic investments, and 15% to enhance its sales network. Founded in 2005, Ingenic operates as a fabless firm, designing chips for various sectors, including automotive and medical devices, and expanded its capabilities in 2020 by acquiring Integrated Silicon Solution Inc.
Key facts
- Ingenic Semiconductor launched a Hong Kong IPO to raise up to HK$3.22 billion (US$410.4 million).
- The company is offering 31.29 million H shares priced at up to HK$102.80 each.
- Trading is expected to start on August 25 under stock code 3223.
- Guotai Junan International is the sole sponsor.
- Ingenic follows GigaDevice and Montage Technology in tapping Hong Kong's capital markets.
- Half of the proceeds will go to innovation and product development; 25% for strategic investments and acquisitions; 15% for sales network expansion and product promotion.
- Founded in 2005, Ingenic is a fabless chip designer for automotive, industrial, medical, and security applications.
- In 2020, Ingenic acquired Integrated Silicon Solution Inc, adding automotive-grade memory products.
Entities
Institutions
- Ingenic Semiconductor
- Guotai Junan International
- GigaDevice
- Montage Technology
- Integrated Silicon Solution Inc
Locations
- Beijing
- China
- Hong Kong
- Shenzhen
- Silicon Valley
- United States