Caixin
Jun 09, 2022 07:21 PM
TECH

Chip Shortage Fans Investor Interest in Semiconductor Equipment Firm’s $540 Million IPO

The booth of Hwatsing at an Expo in Shanghai in 2018. Photo: VCG
The booth of Hwatsing at an Expo in Shanghai in 2018. Photo: VCG

Semiconductor equipment manufacturer Hwatsing Technology Co. Ltd. booked a blistering Shanghai STAR Market IPO debut on Wednesday amid a Covid-induced global shortage of microchips.

The Tianjin-based firm’s shares surged 72% in early trading, but gave back some of those gains over the course of the day to close up 64% at 224.1 yuan ($33.5), valuing Hwatsing at about 23.9 billion yuan.

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