Rexchip Electronics Corp (瑞晶電子), a DRAM joint venture between Tokyo-based Elpida Memory Inc and Taiwan’s Powerchip Semiconductor Corp (力晶半導體), will start trading on the nation’s emerging market today, paving the way for an initial public offering on the broader market by the end of the year.
The emerging market is a market where stocks of unlisted companies are traded on prices decided by negotiations between investors and brokerage houses. Trading on the market is less active than the major bourses.
Rexchip posted net profits of NT$2.47 billion (US$78.3 million), or NT$0.84 per share, in the first two months of this year, according to the financial statements filed to the GRETAI Securities Market.
The four-year-old chipmaker lost NT$2.37 billion last year amid the industry downturn.
Last week, Powerchip posted earnings of NT$4.04 billion, or NT$0.4 a share, for the first quarter, while the nation’s top DRAM maker Nanya Technology Corp (南亞科技) lost NT$1.63 billion in the first three months of the year.
Elpida and its local subsidiary hold a combined 64.5 percent share of Rexchip, while Powerchip owns 33.4 percent.
Rexchip currently has 2.95 billion capital shares.
It produces the DRAMs at an advanced 12-inch factory in the Central Park of Taiwan.
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