TAIPEI–MStar Semiconductor, Inc., a Taiwan-based integrated circuit designer, is scheduled to list on the Taiwan Stock Exchange on Dec. 24, underwriter Capital Securities said yesterday. The Cayman Islands-registered company will offer a total of 32.2 million shares at an indicative price range of NT$250 to NT$310, Capital Securities said.
The public subscription period for investors will run from Tuesday to Thursday, and the listing price will be fixed a day later on Dec. 17, the underwriter said.
The funds to be raised from the listing will be used as working capital for future expansion and to repay loans, according to the company’s prospectus.
It said MStar, capitalized at NT$4.56 billion, has scheduled an investor conference for Dec. 21 to brief local investors on the company’s operations.
MStar, set up in Taiwan in June 2002, moved its headquarters to the Cayman Islands in 2007 and registered its company there to expand globally and operate subsidiaries in Singapore and the Netherlands, the prospectus said.
Chips provided by MStar are used in the production of consumer electronic products, such as flat panel TVs, monitors and cell phones.
The company operates primarily in Hsinchu, northern Taiwan, and most of its products are sold outside Taiwan to China, South Korea and the United States, the prospectus said.
The company said one of its major rivals in the global market is Taiwan-based IC designer MediaTek Inc.
In the first three quarters of this year, MStar posted NT$4.97 billion in net profit, compared with NT$4.82 billion recorded for all of 2009.