Add one more venture-backed IPO with a Greater China tagline to the stockpile accumulating on New York exchanges. This one comes from venture investor WI Harper and managing directoro Y.K. Chu. And, it's in red-hot energy savings sector--yes, you guessed it, another LED deal, SemiLEDs Corp.
I first interviewed the founder of SemiLEDs, Trung Doan, in Taiwan about 18 months ago, and he related the interesting story of its link to Boise, Idaho. We joked then that Boise is known for a different type of (potato) chip.
Now, it may become better known as a hub for LEDs, thanks to the firm's debut on NASDAQ with a 52% increase in value on the opening day of trade. The IPO offered 5.3 million shares, priced at $17 each.
Unlike some mainland China deals that are going public with high valuations before turning a profit (read Youku), SemiLEDs is churning out profits from its operations-$10.8 million based on $35.8 million in revenues.
SemiLEDs has two plants in Taiwan and is partramping up operations, aiming to triple its number of chips from a new production facility in Foshan.
Link to full article
No comments:
Post a Comment