VeriSilicon, which provides such IP as Vivante GPU cores and ASIC design services, has followed in the footsteps of SMIC and Cambricon. Due to the perception that the Chinese state is underwriting China's semiconductor sector there has been intense demand for stocks of recently listed companies.
VeriSilicon priced its IPO at RMB38.53 per share (about US$5.57) and released 10 percent of the stock raising approximately RMB1.86 billion (about US$270 million) and giving the company a market value of RMB$18.6 billion (about US$2.7 billion).
However, when the stock market opened VeriSilicon’s stock price nearly quadrupled to 150 RMB/share.
The funds raised will be used for R&D in leading-edge processes and application-specific cores, the company said.
VeriSilicon was founded in 2001 and has become the top Chinese, and the seventh largest global IP licensor, in 2019, according to IPNest (see Synopsys above ARM in IP licensing revenue in 2019 ). Roughly half of VeriSilicon's business was inside China and half outside China in 2019.
The company has been a long-term backer of FDSOI. It has worked with cores and tape-outs at 14nm/10nm/7nm FinFET and 28nm and 22nm FDSOI. Work has begun on 5nm FinFET cores as well as on a new generation of FDSOI manufacturing process.
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