BASiC Semiconductor Launches HK$866 Million Hong Kong IPO
BASiC Semiconductor (HKG:9971) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$866 million.The Chinese semiconductor manufacturer is offering 27.4 million H-shares at an indicative price range of HK$27.49 to HK$31.62 per share, according to a Hong Kong bourse filing.The offering comprises 1.36 million shares for Hong Kong investors and 26.02 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by July 6, with allocation results due by July 7, ahead of the company's planned trading debut on July 8.Net proceeds will be used to expand the company's production and research and development capabilities.Sinolink Securities (Hong Kong), BOCI Asia, Fortune (HK) Securities, Futu Securities International (Hong Kong), Guosen Securities (HK) Capital, Patrons Securities, Tiger Brokers (HK) Global, TradeGo Markets, and Yue Xiu Securities are serving as the underwriters for the offering.
