Jan. 20, 2012 (China Knowledge) - Universal Scientific Industrial (Shanghai
) Co, controlled by Taiwan-listed
Advanced Semiconductor Engineering Inc, the world's largest semiconductor assembly and testing company by revenue, yesterday published a prospectus to launch its initial public offering in Shanghai
with fundraising of RMB 555.23 million or US$87.89 million.
According to the prospectus, Universal Scientific Industrial (Shanghai
) will issue up to 106.8 million new shares, accounting for 11% of its enlarged capital, in the IPO under the token of "601231".
The issuer said it would start gauging investors' interest in the offering on Friday and price the IPO on February 13, sources reported.
Great Wall Securities has been assigned as the lead underwriter.
Proceeds from the IPO will be used to upgrade technology of wireless communication modules and build a research and development center.
Universal Scientific Industrial (Shanghai
) earned RMB 187.59 million in net profit and RMB 6.53 billion in operating revenue in the first half of 2011, and the firm's operating revenue for 2010 totaled RMB 13.71 billion with net profit of RMB 538.64 million.
The company also targets US$3 billion-operating revenue for 2015, including over US$1 billion in communication equipment sales and US$1 billion in the revenue derived from business of computers and related products.