Powerchip shares soar in trading debut

STRONG COMEBACK: After delisting in 2012 due to debt, the chipmaker’s strategy to reduce operational risk and broaden its portfolio has created an upbeat outlook

Taipei Times
Date: Dec 10, 2020
By: Lisa Wang / Staff reporter

The logo of Powerchip Semiconductor Manufacturing Corp is pictured outside the company’s headquarters at the Hsinchu Science Park on Feb. 25 last year.
Photo: Hung Yu-fang, Taipei Times

Shares of Powerchip Semiconductor Manufacturing Corp (力積電), the world’s seventh-largest foundry, yesterday surged 223 percent on their first day on the Emerging Stock Board, boosting the company’s market capitalization to NT$260.8 billion (US$9.15 billion).

Powerchip’s market value surpassed that of its closest rival, Vanguard International Semiconductor Co (世界先進) valued at NT$210.8 billion, based on its share price of NT$128.5 yesterday.

Powerchip shares skyrocketed to touch NT$84 soon after the market opened in the morning, from the subscription price of NT$26 per share. The stock opened at NT$55.7.

About 1.3 billion Powerchip shares changed hands, making it the most heavily traded stock on the board.     [FULL  STORY]

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