The chip design business in Zhuhai City actions lands accept $72 million financing

EST on November 31st (Beijing time December 1st) news, Chinese third chip design companies Zhuhai actions Wednesday officially Nasdaq, listed on the first day of trading shares closed at $8, with an initial public offering (IPO) issue price unchanged.

Zhuhai Juli IPO underwriters Credit Suisse First listed in Boston, the trading symbol "ACTS". Zhuhai fire force IPO by offering a total of 9 million shares of American depositary receipts, of which 6 million shares from the Zhuhai fire company, 3 million shares from existing shareholders; stock price of $8, $8 in price to the lower limit of $9, lower than the initial IPO price of $9.5 to $11.5.

Zhuhai fire force through IPO financing $72 million. The first nine months of this year, net profit of Zhuhai actions for $53 million 700 thousand, $9 million 850 thousand for the same period last year. Zhuhai is home to second actions this year listed on NASDAQ China chip company, listed its trajectory with similar vimicro. Earlier this month, Vimicro listed on Nasdaq, the issue price is lower than the same initial price range, and listed on the first day of trading fell below the issue price.

In order to attract investors and Zhuhai actions are Vimicro obstacles to some extent. Vimicro company exists prior to the disclosure of accounting problems cannot be solved quickly, and Zhuhai actions is facing US rival Sigmatel company filed a patent infringement lawsuit. Zhuhai fire force CEO Ye Nanhong said Wednesday that he did not think the legal dispute with Sigmatel company led investors to lose interest in Zhuhai actions, because of its low cost and high profit rate advantage, China chip manufacturers will eventually get the favor of investors. "Investors will be shocked when they see our high margin and low cost," he said."