BASiC Semiconductor passes June 21 HK IPO hearing for SiC listing

BASiC Semiconductor passed its Hong Kong Stock Exchange listing hearing June 21, clearing the way for a silicon carbide chip IPO.

The Shenzhen-based company, formally known as Shenzhen BASiC Semiconductor Co., did not disclose the proposed deal size, offer price or listing date in the hearing notice. The company plans to list on Hong Kong's Main Board, according to the exchange filing. Lead underwriters and cornerstone investors were not identified in the hearing document.

BASiC Semiconductor designs and manufactures silicon carbide power semiconductors used in electric vehicles, renewable energy systems and industrial power supplies. SiC chips offer higher efficiency and thermal performance than traditional silicon-based semiconductors, making them critical for EV powertrains and solar inverters. The company is among a growing number of Chinese chipmakers focused on wide-bandgap semiconductor materials, a segment that has attracted increased investment as global demand for energy-efficient power electronics rises.

The successful hearing comes as Hong Kong's IPO market shows signs of revival after a prolonged downturn. At least five Chinese companies seek to raise more than $2 billion combined in Hong Kong offerings, MarketWatch reported. Lingyi iTech Guangdong Co., another electronics-components maker, began taking investor orders June 17 for a listing that may raise as much as HK$8.3 billion ($1.06 billion), Bloomberg reported.

The IPO would give BASiC Semiconductor capital to expand its SiC production capacity as demand for power semiconductors accelerates with the global shift to electric vehicles and clean energy infrastructure. The company joins a wave of Chinese chipmakers seeking public listings to fund capacity expansion as demand rises from the EV and renewable energy sectors.

Investors will watch for the company's final pricing and first-day trading performance to gauge institutional appetite for Chinese semiconductor listings. The company's valuation relative to listed peers such as STMicroelectronics and Wolfspeed will be a key metric when terms are disclosed. The listing also serves as a test of Hong Kong's ability to attract tech IPOs as competition from other global exchanges intensifies.

This article is for informational purposes only and does not constitute investment advice.