Core Viewpoint - Tianyu Semiconductor, a manufacturer of silicon carbide epitaxial wafers based in Dongguan, Guangdong, is set to launch its IPO from November 27 to December 2, 2025, with plans to list on the Hong Kong Stock Exchange on December 5, 2025, under the sponsorship of CITIC Securities [3][4]. Group 1: IPO Details - The total number of shares offered is 30,070,500 H-shares, with 3,007,050 shares available for public sale and 27,063,450 shares for international placement [4][5]. - The offer price is set at HKD 58.00 per share, with an estimated total fundraising amount of approximately HKD 1.744 billion [4][5]. - The IPO will adopt Mechanism B, with an initial public offering allocation ratio of 10% and no reallocation mechanism [5][4]. Group 2: Use of Proceeds - The net proceeds from the IPO are expected to be around HKD 1.671 billion, with approximately 62.5% allocated for capacity expansion, 15.1% for R&D and innovation, 10.8% for strategic investments or acquisitions, 2.1% for global sales and marketing, and 9.5% for working capital and general corporate purposes [8]. Group 3: Shareholder Structure - Post-IPO, the controlling shareholders will include Mr. Li Xiguang and Ms. Su Qin, holding approximately 53.8954% of the shares, with other notable investors including Huawei's Hubble Technology and BYD [9][8]. - The shareholder structure indicates a diverse range of investors, with public shareholders holding 7.6463% of the shares [9][10]. Group 4: Company Background - Established in 2009, Tianyu Semiconductor is a leading supplier of third-generation silicon carbide semiconductor materials and ranks first in China's silicon carbide epitaxial wafer industry by revenue and sales volume, with market shares of 30.6% and 32.5% respectively [10]. - The company is one of the first in China to achieve mass production of 4-inch, 6-inch, and 8-inch silicon carbide epitaxial wafers, with an annual capacity of approximately 420,000 wafers as of May 31, 2025 [10].
天域半导体(02658)招股，广东原始森林、Glory Ocean参与基石投资，12月5日香港上市