China IPO Digest: MEMSensing, Shijia Eye STAR Market Debut

China’s MEMSensing Microsystems and Shenzhen Capital Group-backed Henan Shijia Photons Technology have announced updates of their initial public offerings on the STAR Market.

MEMSensing raises $120m ahead of STAR Market IPO

Memsensing Microsystems (Suzhou, China) Co., Ltd, also known as MEMSensing, has raised as much as 834 million yuan ($120 million) ahead of its initial public offering (IPO) on Shanghai’s Nasdaq-style STAR Market, according to a company filing on August 4.

The company has offered 13.30 million common shares at a price of 62.67 yuan ($9.02) apiece. 

Shanghai-based Guotai Junan Securities is the lead underwriter for the deal. MEMSensing will float the shares under the symbol “688286”.

Its products largely serve the consumer electronics sector. MEMSensing will deploy the proceeds to build its microphone manufacturing base and its technology research centre. 

MEMSensing is backed by Walden International, Oriza Holdings, Beijing Singularity Power Investment Fund, Allin Capital, among others. 

Shijia plans $72m on STAR Market

Shenzhen Capital Group-backed Henan Shijia Photons Technology Cp., Ltd has secured 498 million yuan ($72 million) ahead of its initial public offering (IPO) on the Nasdaq-style STAR Market of the Shanghai Stock Exchange, per a company filing on Thursday. 

Set up in 2010, Shijia is a supplier of PLC photonic chips and optoelectronic devices.

Shijia kicked off the subscription exercise on July 31 offering 46 million common shares at 10.82 yuan ($1.6) apiece.

Huatai United Securities serves as the principal underwriter for the deal. Shijia will float the shares under the symbol “688313”.

Following the IPO, Shijia’s majority shareholders will be Hebi Investment (6.54%), Henan Venture Investment (2.18%) and Shenzhen Capital Group (2.45%).