IQE
plc
Cardiff, UK
31 July 2024
IQE announces plans for the
IPO of Taiwan operating subsidiary on the Taiwan Stock
Exchange
IQE plc (AIM: IQE, "IQE" or
the "Group"), the leading global supplier
of compound semiconductor wafer products and advanced material
solutions, is pleased to announce the
planned initial public offering ('IPO') of the Group's Taiwanese
operating subsidiary ('IQE Taiwan') on the Taiwan Stock Exchange
('TWSE').
The Group intends to list IQE Taiwan
on the TWSE and to sell a minority shareholding through a public
offering. It plans to retain control of IQE Taiwan and will
continue to leverage its strategic value, with the proceeds of the
public offering intended to be utilised across the Group to fund
the growth strategy.
Whilst the process is currently at
an early stage, IQE has engaged Taishin Securities Co. Ltd as its
financial advisor to assist in preparing IQE Taiwan for the IPO.
The IPO will be a two stage process, with the initial phase of
listing on the Emerging Market Board expected in H1 2025, subject
to usual regulatory procedures and requirements. Further
transaction details and information regarding the process will be
released as appropriate.
Americo Lemos, Chief Executive Officer of IQE,
commented:
"This is an exciting opportunity for IQE and will accelerate
the investment in our strategy for growth as we capitalise on the
market opportunities ahead, including in GaN Power. A successful
IPO of IQE Taiwan will allow us to maximise the value of our asset
whilst continuing to offer a secure and resilient supply chain for
our global customers."
Contacts:
IQE
plc
+44 (0) 29 2083 9400
Americo Lemos
Jutta Meier
Amy Barlow
Peel Hunt (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Ben Cryer
Kate Bannatyne
Adam Telling
Deutsche Numis (Joint Broker)
+44 (0) 20 7260 1000
Simon Willis
Hugo Rubinstein
Iqra Amin
Headland Consultancy (Financial PR)
+ 44 (0) 20
38054822
Andy Rivett-Carnac: +44 (0) 7968 997
365
Chloe Francklin: +44 (0)78 3497
4624
ABOUT IQE
http://iqep.com
IQE is the leading global supplier
of advanced compound semiconductor wafers and materials solutions
that enable a diverse range of applications across:
·
Smart Connected Devices
·
Communications Infrastructure
·
Automotive and Industrial
·
Aerospace and Security
As a scaled global epitaxy wafer
manufacturer, IQE is uniquely positioned in this market which has
high barriers to entry. IQE supplies the global market and is
enabling customers to innovate at chip and OEM level. By leveraging
the Group's intellectual property portfolio including know-how and
patents, it produces epitaxy wafers of superior quality, yield and
unit economics.
IQE is headquartered in Cardiff UK, with employees across eight
manufacturing locations in the UK, US and Taiwan, and is listed on
the AIM Stock Exchange in London.
ABOUT TAISHIN SECURITIES CO.
LTD
Taishin Securities is a comprehensive
securities firm, with its business covering brokerage, proprietary
trading, underwriting, and providing a fully functional electronic
trading platform. It is integrated with the resources of
Taishin Financial Holding to provide services through nearly 100
branches of Taishin Bank, with the goal of providing comprehensive
and diversified financial management services. Taishin Securities
has successfully helped 15 companies get listed (IPO) since 2022,
the highest number in the industry.