News: Suppliers
31 July 2024
IQE plans IPO of Taiwan subsidiary on Taiwan Stock Exchange
Epiwafer and substrate maker IQE plc of Cardiff, Wales, UK is planning an initial public offering of its Taiwanese operating subsidiary (IQE Taiwan) on the Taiwan Stock Exchange (TWSE).
The firm intends to sell a minority shareholding, retaining control of IQE Taiwan as it continues to leverage its strategic value. The proceeds of the public offering will be used across IQE to fund its growth strategy.
While the process is at an early stage, IQE has engaged Taishin Securities Co Ltd as its financial advisor to assist in preparing IQE Taiwan for the IPO. The IPO will be a two-stage process, with the initial phase of listing on the Emerging Market Board expected in first-half 2025, subject to the usual regulatory procedures and requirements.
The IPO will “accelerate the investment in our strategy for growth as we capitalize on the market opportunities ahead, including in GaN power,” believes IQE’s CEO Americo Lemos. “A successful IPO of IQE Taiwan will allow us to maximise the value of our asset whilst continuing to offer a secure and resilient supply chain for our global customers.”
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