SHANGHAI--Shanghai Huahong NEC Electronics Co. is the latest silicon foundry provider in China to announce plans to file an initial public offering, according to a report from Reuters.
Huahong NEC, a joint venture between Japan's NEC Corp. and the Chinese government, will use the IPO to fund its fab capacity. It plans to list on the Hong Kong stock exchange.
The Shanghai-based company said it would expand its fab capacity from 30,000 wafers a month, to 80,000-100,000 in three years, according to the report. In the first step of the expansion, the company plans to raise its monthly capacity to 40,000 8-inch wafers this year, from 30,000 wafers in 2003.
Others chip makers in China are also looking at an IPO. The initial public offering of shares in Chinese foundry Semiconductor Manufacturing International Corp. is now set to raise US$1.58 billion as the company has elaborated plans to list on the Hong Kong and New York stock exchanges, according to reports (see January 27 story).