Business
IQE plc: Planned IPO of IQE Taiwan on TWSE
IQE plc: Planned IPO of IQE Taiwan on TWSE.
About this update from Iqe Plc
[{"type":"text","content":"\n\nIQE plc\n \n \nCardiff, UK\n31 July 2024\n \n \nIQE announces plans for the IPO of Taiwan operating subsidiary on the Taiwan Stock Exchange\n \nIQE 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').\nThe 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.\nWhilst 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.\nAmerico Lemos, Chief Executive Officer of IQE, commented:\n\"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.\"\n \nContacts:\n \nIQE plc\n+44 (0) 29 2083 9400\nAmerico Lemos\nJutta Meier\nAmy Barlow\n \nPeel Hunt (Nomad and Joint Broker)\n+44 (0) 20 7418 8900\nBen Cryer\nKate Bannatyne\nAdam Telling\n \nDeutsche Numis (Joint Broker)\n+44 (0) 20 7260 1000\nSimon Willis\nHugo Rubinstein\nIqra Amin\n \nHeadland Consultancy (Financial PR) + 44 (0) 20 38054822\nAndy Rivett-Carnac: +44 (0) 7968 997 365\nChloe Francklin: +44 (0)78 3497 4624\n \nABOUT IQE\nhttp://iqep.com\n \n \nIQE is the leading global supplier of advanced compound semiconductor waf...