AzureWave Technologies Inc (海華科技), a wireless networking solutions firm partly owned by Asustek Computer Inc (華碩), announced a tentative plan to list on the main bourse on May 3, with a listing price to fall in the range of between NT$28 and NT$42.
AzureWave competes in the wireless modules production sector against Huawei Technologies Co (華為) and ZTE Corp (中興通訊) — Chinese heavyweights that have a lead in the 3G wireless market.
AzureWave said on Thursday at a pre-listing conference that it has embarked on research and development projects to support terminals for 3G, 4G and LTE, which the company believed would give it a competitive edge in the future.
Wireless modules are widely adopted by an array of products from smartphones, tablet PCs, set-top boxes and smart TVs to game consoles and e-readers.
AzureWave said wireless module makers must be able to produce units capable of supporting multiple operating platforms and various devices amid the future convergence of smart electronics.
Established in 2005, AzureWave is 12.6 percent owned by Asustek and 43.56 percent owned by Pegatron — a contract manufacturing arm under Asustek.
It reported NT$6.43 billion (US$221 million) in revenues last year, up 39 percent year-on-year. Earnings slid 2.2 percent to NT$269 million, or NT$2.71 per share, while gross margins were 18.19 percent, according to the firm.
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