China analog IDM proposes $75M IPO with U.S. SEC

BCD Semiconductor Manufacturing Ltd, a China-based analog IDM, has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO) of American Depository Shares (ADS).

BCD proposes to issue 6 million ADS valued at between $9 and $11, with each ADS representing five ordinary shares. The company has allowed 900,000 shares for underwriters to exercise an over allotment facility.

As a result, the IPO could raise up to $75.9 million before costs. The company said it intended to inject $40 million into the Shanghai-based subsidiary of the Cayman Islands-registered parent.

The company's headquarters and major manufacturing facilities are located in Shanghai and the U.S. subsidiary in Hayward, California.

- Peter Clarke
EE Times Europe