02577 英諾賽科
INNOSCIENCE
INNOSCIENCE
| Register Close | 2024/12/23 IPO Closing Tomorrow |
| Listing Date | 2024/12/30 |
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IPO Detail
COMPANY PROFILE
InnoScience (Suzhou) Technology Holding Co., Ltd. is the first in the world to achieve mass production of 8-inch Gallium Nitride on Silicon (“GaN-on-Si”) wafers and the only company that offers a full voltage spectrum of GaN-on-Si semiconductor products on industrial scale.
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The Group designs, develops and manufactures various types of GaN products, including discrete chips, integrated circuits (“ICs”), wafers and modules. The Group’s products are widely adopted in diverse power supply applications across a broad range of sectors, such as fast chargers and adapters in consumer electronics, battery management systems in renewable energy and industrial applications, LiDAR systems in automotive electronics and power supply units in data centers.
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In terms of revenue in 2023, the Group had a market share of 0.2% in the global power semiconductor industry and 0.4% in the power semiconductor industry in China, according to Frost & Sullivan. Additionally, the Group ranked first among all GaN power semiconductor companies globally in 2023 in terms of revenue.
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As of June 30, 2024, the Group house the world’s largest GaN power semiconductor production base, with a production capacity of 12,500 wafers per month. It had 406 patents and 387 patent applications in the world.
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The Group’s customers comprise leading providers of semiconductor manufacturing services, high-tech companies specializing in renewable energy technology as well as Tier-1 suppliers of automotive OEMs.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Semiconductors |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 45.36M H shares |
| No. of International Offer Shares | 40.83M H shares |
| No. of HK Offer Shares | 4.54M H shares |
| Offer Price | $30.86 - $33.66 |
| Stock Code | 2577 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, CMB International Capital Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, CMB International Capital Limited, Jefferies Hong Kong Limited, CLSA Limited, Huatai Financial Holdings (Hong Kong) Limited, BOCI Asia Limited, Hong Tai Securities Limited, ABCI Securities Company Limited, Patrons Securities Limited, Long Bridge HK Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited, TradeGo Markets Limited |
TIME TABLE
| Application Period | Dec 18 (Wed) - noon, Dec 23 (Mon) |
| Price Determination Date | Dec 24 (Tue) |
| Result Announcement Date | On or before Dec 27 (Fri) |
| Result Announcement Date | On or before Dec 27 (Fri) |
| Result Announcement Date | On or before Dec 30 (Mon) |
| Dealings in Shares commence on | Dec 30, 2024. (Mon) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $30.86 - $33.66 |
| Capitalization (H Shares) | 15.11B - 16.48B |
| NAV / share ($) | $3.92 - $4.06 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 32.26, the net proceeds raised would be HKD 1.36B, of which |
| 60% : Expand production capacity of the 8-inch GaN wafer, purchase and upgrade equipment and machinery for production |
| 20% : R&D and expansion of product portfolio to increase the penetration rate of GaN products in end markets |
| 10% : Expanding the global distribution network of GaN products |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).