WND-based IC company makes STAR market debut

Wuxi Etek Microelectronics Co Ltd celebrates its STAR market debut. [Photo/wnd.gov.cn]

Wuxi Etek Microelectronics Co Ltd was listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, on June 28.

The company raised 583.68 million yuan ($90.31 million) in its initial public offering (IPO). The company plans to issue 16 million shares with an issue price of 160 yuan.

Executives from the company said it will use the proceeds in its industrial development of high-performance power conversion and driver chip projects, high-performance power protection chip projects, and the construction of its new R&D center.

The STAR market was designed to focus on companies in high-tech and strategic emerging sectors. Wuxi Etek Microelectronics Co Ltd was the first company in Wuxi to debut on the sci-tech innovation board this year.

To date, six companies based in the Wuxi National Hi-tech District are now listed on the STAR market, among which three are involved in the IC industry.

The company, founded in the WND in May 2002, is a high-performance analog integrated circuit design company. The company mainly focuses on the research and development, design, and sale of power management chips. Its products are mainly used in consumer electronics such as mobile phones and wearable devices.

In 2020, the company's total sales reached 540 million yuan, ranking first among IC design companies in WND.