Filing documents released by the Hong Kong Stock Exchange (HKEX) on June 8 show that Hefei Nexchip Semiconductor Corporation Limited (hereinafter referred to as Nexchip) has updated its post-hearing prospectus, confirming that its application for a Main Board listing on HKEX has officially passed the hearing, bringing the company one step closer to its stock debut.
Nexchip was listed on the Shanghai STAR Market in May 2023. The successful hearing clearance paves the way for the firm to become another semiconductor enterprise with dual A+H listings. Per the post-hearing disclosure, the company will press ahead with preparations for its share offering in Hong Kong.
Founded in 2015 and headquartered in Hefei, Anhui Province, Nexchip ranks as China’s third-largest pure-play wafer foundry and a world-leading manufacturer specializing in display driver chip foundry services. Focused on semiconductor wafer fabrication, its products are widely deployed across consumer electronics, smartphones, automotive electronics and other sectors.
As stated in its previously released prospectus, proceeds from the Hong Kong IPO will be primarily allocated to capacity expansion, technological R&D and upgrading, as well as working capital replenishment. Specific offering size, pricing range and listing timeline are yet to be announced.
Amid accelerated domestic substitution of the semiconductor industrial chain in recent years, Nexchip has steadily expanded production capacity to consolidate its leading position in display driver chip foundry, while proactively exploring new business lines including power management chips and image sensors.
Major Chinese wafer foundry leaders such as SMIC and Hua Hong Semiconductor have previously completed dual A+H listings. If Nexchip successfully lists in Hong Kong, it will join their ranks as another semiconductor manufacturer with concurrent STAR Market and Hong Kong stock listings. The dual listing will broaden its financing channels and strengthen its influence within the international capital market.
(Reprinted from https://news.eccn.com/）