Shares of motherboard maker Asrock Inc (華擎) rallied 8.4 percent during its debut on the main bourse, defying the benchmark TAIEX's 3.90 percent loss following the plunge in the US overnight on growing subprime mortgage concerns.
Asrock stock rose NT$21 to NT$271 from its listing price of NT$250 per share. The 7 percent daily limit does not apply to the trading of new shares in the first five sessions. Asrock shares were traded on the smaller Emerging Stock Market (
Asrock is a motherboard brand owned by the world's biggest motherboard maker Asustek Computer Inc (
But, the five-year-old company said last week that it planned to shift its focus to middle-range and high-end products to boost profits as growth in the low-end area slows amid rising competition from Hon Hai Precision Industry Co (
SinoPac Securities Corp (
"Asrock will gain a new driving force after tapping into middle-range and high-end products, which account for 60 percent of the total unit sales of the motherboard industry," SinoPac Securities said in the report published on Monday.
Asrock plans to produce 10 percent to 15 percent more motherboards next year from this year's goal of 7 million units, based on replacement demand for the Vista system and rising demand in the emerging markets, chairman Ted Hsu (
In the first nine months of the year, Asrock's earnings inched up by nearly 4 percent to NT$1.39 billion, compared to NT$1.34 billion a year ago.
On Tuesday it said it had raised NT$2.86 billion by issuing 11.44 million new common shares during the initial public offering. Asrock now has around 102 million shares in issue.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) secured a record 70.2 percent share of the global foundry business in the second quarter, up from 67.6 percent the previous quarter, and continued widening its lead over second-placed Samsung Electronics Co, TrendForce Corp (集邦科技) said on Monday. TSMC posted US$30.24 billion in sales in the April-to-June period, up 18.5 percent from the previous quarter, driven by major smartphone customers entering their ramp-up cycle and robust demand for artificial intelligence chips, laptops and PCs, which boosted wafer shipments and average selling prices, TrendForce said in a report. Samsung’s sales also grew in the second quarter, up
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