A Chinese semiconductor corporation that acquired South Korea's semiconductor company Silicon Miters is pushing for a Hong Kong listing. The valuation is expected to be at least 20 billion yuan (about 3.9 trillion won).
According to Chinese media like Chai Lian Se on the 22nd, Silicon Microtechnology recently submitted its application for listing on the Hong Kong stock market. Silicon Microtechnology, a Chinese corporation established in Hangzhou in 2019, acquired the power semiconductor company Silicon Miters for 2.5 billion yuan (about 480 billion won) in 2020.
The corporation rapidly grew after acquiring Silicon Miters (with a 96.1% equity stake). It secured significant investments from major venture capital firms, and two months later, it attracted 11 investors, including Xiaomi, Hillhouse, and Contemporary Amperex Technology Co. Limited (CATL), in its Series A funding. In May 2022, it also participated in investment from the China National Fund II. After completing Series B funding in August 2022, the corporation's valuation surpassed 20 billion yuan.