IQE to spin out Taiwan business
UK substrate supplier IQE is to spin out its business in Taiwan on the local stock exchange.
The first phase of the planned initial public offering (IPO) of IQE Taiwan will see listing on the Emerging Market Board of the Taiwan Stock Exchange (TWSE) and is expected in the first half of 2025.
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 the subsidiary Taiwan with the proceeds of the public offering intended to be utilised across the Group to fund the growth strategy.
“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,” said Americo Lemos, Chief Executive Officer of IQE.
Taiwan is a key market for IQE’s compound semiconductor epitaxial wafers.
Whilst the process is currently at an early stage, the company has engaged Taishin Securities as its financial advisor to assist in preparing the business for the IPO.
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