Cardiff chipmaker IQE plans IPO for Taiwanese subsidiary
British chipmaker IQE plans to list its Taiwan subsidiary on the Taiwan Stock Exchange, using the proceeds to invest in growth.
The Cardiff-based company, which makes epi-wafers for use in laser hair removal and facial recognition sensors in iPhones, told investors it would sell a minority stake in IQE Taiwan and retain control of the company after the IPO.
IQE did not say how much money it hoped to raise from the IPO, but said the proceeds would be “used across the group to fund its growth strategy”.
IQE will use the proceeds of the IPO to fund its growth strategy
Americo Lemos, CEO, said: “A successful IPO of IQE Taiwan will enable us to maximize the value of our assets while continuing to provide a secure and resilient supply chain for our global customers.”
IQE shares rose 9.7 percent to 32.15p in early trading on Tuesday, taking their year-on-year gain to 61.8 percent.
The Apple supplier narrowed losses to £26 million last year from £75 million in 2022 as global supply chain issues and weaker demand hit profits.
Bosses say the company is well positioned for sustainable growth despite economic challenges as global demand for chips continues to rise on the back of the AI boom.
The group expects to post revenues of “at least” £65m when it reports interim results in September, representing growth of around 25 per cent year-on-year.
Lemos said: “This is a great opportunity for IQE and will accelerate investments in our growth strategy as we can now take advantage of the opportunities the market offers us.”
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