Foundry house Nexchip Semiconductor, a joint venture between Taiwan's Power Semiconductor Manufacturing and the Hefei city government of China's Anhui province, has secured recently approval to launch an initial public offering (IPO) on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE), according to China-based media reports.
Through the IPO, Nexchip is looking to raise CNY9.5 billion (US$1.5 million) to fund its advanced process R&D, and new equipment and facility purchases, as well as enhancing its working capital, according to the reports.
Founded in May 2015, Nexchip is a 12-inch foundry engaged in the manufacture of mainly display driver ICs and image sensors, running 0.15-micron, 0.11-micron and 90nm manufacturing processes.
Nexchip reportedly plans to kick off its newer 40nm and 28nm process R&D. The foundry has also developed its new 55nm process offering, which is being validated for TDDI chip designs slated for volume production later in the first quarter, the company was quoted as saying.
