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Chip company seeks 523m yuan in Shanghai IPO
By Ding Yining |
January 19, 2012, Thursday
|
Online Edition
Online Edition
UNIVERSAL Scientific Industrial (Shanghai) Co, a mainland subsidiary of Taiwan's Advanced Semiconductor Engineering Inc, the world's largest chip tester and packager, is seeking a 523-million-yuan initial public offering in Shanghai.
USI said it will sell 106.9 million new shares, or 11 percent of its enlarged share base, according to a prospectus on Shanghai Stock Exchange website today.
It will use the proceeds for technical upgrades and the construction of a research and development center.
The company projects a lower-than-expected profit and revenue growth in 2011 due to a contraction of demand in the global electronics market after a booming 2010.
The company which serves more than 90 percent of the world's electronics firms, including Apple, Intel and Motorola, said income in the first half of 2011 was 6.53 billion yuan.
USI said it will sell 106.9 million new shares, or 11 percent of its enlarged share base, according to a prospectus on Shanghai Stock Exchange website today.
It will use the proceeds for technical upgrades and the construction of a research and development center.
The company projects a lower-than-expected profit and revenue growth in 2011 due to a contraction of demand in the global electronics market after a booming 2010.
The company which serves more than 90 percent of the world's electronics firms, including Apple, Intel and Motorola, said income in the first half of 2011 was 6.53 billion yuan.
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