CanSemi sets IPO price at US$1.65 a share, subscriptions open September 24

What's the deal? Chinese chipmaker CanSemi has set its initial public offering price at US$1.65 per share, according to a September 22 announcement. Investors can subscribe online and offline on September 24.

How was the price set? The issuer and joint lead underwriters fixed the price after preliminary inquiry results. They weighed remaining bids, subscription volumes, effective oversubscription multiples, and the company's fundamentals.

What else went into it? Other factors included CanSemi's industry, valuation levels of comparable listed peers, market conditions, fundraising needs, and underwriting risk. With the price set, the offline offering will not proceed to cumulative bid inquiry.

How to subscribe? Both online and offline subscriptions run on September 24, the T-day, with no funds required at the time of application. Offline subscriptions run 9:30–15:00; online subscriptions run 9:15–11:30 and 13:00–15:00.

The signal: CanSemi's listing adds to a steady flow of Chinese semiconductor firms tapping public markets as Beijing pushes for domestic chip capacity. A confirmed price and subscription date mark the final stretch before the shares begin trading.

Image credit: Sangitiana