ASMedia Technology Inc (祥碩), a control integrated circuit supplier that is a subsidiary of personal computer vendor Asustek Computer Inc (華碩), is planning to launch a listing on the Taiwan Stock Exchange (TWSE) by the end of this year, the chipmaker said yesterday.
ASMedia, which was established in 2004 and now has a product portfolio including USB 3.0 host controllers, peripheral component interconnect-express and switch ICs, said it has filed an application with the TWSE for approval of the listing.
Last year, the chipmaker, capitalized at NT$474 million (US$15.8 million), generated about 60 percent of its total sales worth NT$1.45 billion from the overseas market, with the remaining 40 percent coming from the domestic market, according to the company prospectus.
Asustek is the largest shareholder of ASMedia, with a 49.31 percent stake.
ASMedia said it posted NT$216 million in net profit last year, sharply up from NT$46.89 million recorded a year earlier, while its earnings per share (EPS) stood at NT$5.08, compared with NT$1.17 registered a year ago.
In the first quarter of this year, ASMedia posted NT$63.61 million in net profit, with EPS at NT$1.34, the company said.
ASMedia said its sales for the first half of this year rose 20.05 percent from a year earlier to hit NT$894 million, and predicted that sales for the rest of the year would continue to grow on an increase in shipments of USB 3.0 host controllers following its efforts to secure orders from new customers.
Since Jan. 12 this year, ASMedia has been listed as an emerging stock on the GRETAI Securities Market. Under the current stock listing rules, a company has to be listed as an emerging market for no less than six months before it can launch a listing on the main board or on the over-the-counter market.
ASMedia shares averaged NT$103.01 on Friday last week, up from NT$100.96 a session earlier.