Chip maker's unit eyes IPO in Shanghai
By Ding Yining |
January 20, 2012, Friday
|
Print Edition
Print Edition
UNIVERSAL Scientific Industrial (Shanghai) Co, a Chinese mainland unit of Taiwan's Advanced Semiconductor Engineering Inc, the world's largest chip tester and packager, is seeking a 555 million yuan (US$87.9 million) 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 the prospectus it filed to Shanghai Stock Exchange's website yesterday. It will use the proceeds to upgrade wireless technology and construct a research and development center.
USI projects a lower-than-expected profit and revenue growth in 2011 amid a slowdown of the global electronics market.
The company, whose clients cover more than 90 percent of the world's major electronics firms including Apple, Intel and Motorola, said revenue in the first half of 2011 was 6.53 billion yuan, or equivalent to 47.7 percent of sales in 2010.
Its profit in the first six months last year totaled 239 million yuan.
"The economic crisis which is spreading in the European region is hurting market demand while the global chip packaging and testing market is slowing down after a high growth rate in 2010," USI said in the prospectus.
In September, the ASE Group said it will spend 24 billion yuan over 8-10 years to boost capacity at its Shanghai plants.
The ASE Group said it intends to increase its share of the global semiconductor testing and packaging market to one third from 7 percent now.
USI said it will sell 106.9 million new shares, or 11 percent of its enlarged share base, according to the prospectus it filed to Shanghai Stock Exchange's website yesterday. It will use the proceeds to upgrade wireless technology and construct a research and development center.
USI projects a lower-than-expected profit and revenue growth in 2011 amid a slowdown of the global electronics market.
The company, whose clients cover more than 90 percent of the world's major electronics firms including Apple, Intel and Motorola, said revenue in the first half of 2011 was 6.53 billion yuan, or equivalent to 47.7 percent of sales in 2010.
Its profit in the first six months last year totaled 239 million yuan.
"The economic crisis which is spreading in the European region is hurting market demand while the global chip packaging and testing market is slowing down after a high growth rate in 2010," USI said in the prospectus.
In September, the ASE Group said it will spend 24 billion yuan over 8-10 years to boost capacity at its Shanghai plants.
The ASE Group said it intends to increase its share of the global semiconductor testing and packaging market to one third from 7 percent now.
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