China's first multimedia and communications chip companies have landed in the city

In China Internet companies have vied for the Nasdaq, Chinese chip companies have also begun to turn attention to the United States listed financing. Yesterday, China chip manufacturers in the United States has announced Vimicro, Vimicro time this Tuesday (Beijing time Wednesday evening) officially listed on the Nasdaq, raising a total of $87 million, becoming the first in the city listed Chinese Na multimedia and communication chip companies.

According to Vimicro revealed the IPO (initial public offering) details, Vimicro issued a total of 8 million 700 thousand shares of American depositary receipts, the issue price of $10, raising the total to $87 million, planing to issue costs $68 million, Vimicro net financing.

It is understood that Vimicro listed under the symbol "VIMC", the lead underwriter Morgan Stanley, Merrill Lynch is co manager of.

Previously, the main chip and provide multimedia and communication applications for mobile phone chip Vimicro 2.5G/3G, has been a leader in the domestic industry, but in the field of communication chip, Vimicro has been facing TI (TI), Qualcomm, PHILPS, Freescale Carle (former Motorola, Infineon chip Department) and other multinational chip giant competition.

With this correspondence, although by MII and China government support, but foreign investors have yet to fully recognized Vimicro listed. Vimicro listed on the first day of the opening price of $10.01, to close at $8.36, down 16.40%.