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Markets · Equity · IPO
ASR Microelectronics debuts on SSE STAR Market, fell 34%
2022/01/14 09:57:05

Jan 14, 2022 (China Knowledge) - ASR Microelectronics (688220) opened at RMB 130 on its first day trading on the Shanghai Stock Exchange's STAR Market, an decrease of 21% from its IPO price of RMB 164.54.

The shares price ended the day at RMB 109, falling 34% from its issue price. Its intraday high and low were RMB 130.11 and RMB 105.88, respectively. A total of 17.8 mln shares changed hands with a turnover of RMB 2 bln, and ending the day with a total market capitalization of RMB 45.6 bln.

ASR Microelectronics Co., Ltd. manufactures and distributes semiconductor products. The Company produces baseband communication chips, mobile intelligent terminal chips, low power consumption chips, high integration chips, global navigation and positioning chips, and other products. ASR Microelectronics also provides aemiconductor internet protocol authorization services.

ASR Microelectronics reported in its prospectus that the funds raised from the IPO will be used to fund its new communication chip design, supplement its working capital, and to build a R&D center.

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