WND enterprise makes STAR Market debut

Wuxi Chipown Microelectronics Co is listed on the Shanghai Stock Exchange's sci-tech innovation board on July 22. [Photo/WeChat account: xinwu_wx]

Wuxi Chipown Microelectronics Co, based in Wuxi National Hi-tech District, was listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, on July 22.

Wuxi Chipown Microelectronics is a private high-tech enterprise focusing on the research and development of power integrated circuits. At present, the company has developed into a leading supplier of high-voltage power supply and driver chips in China, providing products and solutions for many well-known companies in the industry.

With an issue price of 28.30 yuan ($4.06) a share, its shares opened at 102 yuan. This time, the company issued 28.2 million shares and raised a total of 798 million yuan ($113.87 million), with the funds set to be used in its R&D and industrialization projects for high-performance power management IC and industrial-grade driver chip module, as well as the construction of its R&D center.

Six Wuxi enterprises have been listed on the STAR market by now. The number ranks fifth nationwide, same as Hangzhou, Zhejiang province. Chipown became the fourth firm in the district to be listed on the STAR market.

Wu Guanqing, director of Wuxi Listed Enterprises Association, spoke highly of the local government's long-term work and support on developing quality science and technology companies.

The technology-heavy STAR market, which celebrated its first anniversary July 22, has given more decisive power to the capital market by piloting a registration-based initial public offering system and facilitated China's economic restructuring by providing more financial support to technology companies, experts said.