Saturday, November 07, 2020

Galaxycore IPO Approved at $7.5B Valuation

FinanceSecond, NetEase: GalaxyCore listing at Science and Technology Innovation Board of the Shanghai Stock Exchange has been approved by authorities. The IPO includes 15% share of the company at the price of 7,428,830,300 RMB (about $1.124B). This values the company at $7.5B.

The money will be invested into CIS R&D and 12-inch wafer BSI processing facility that Galaxycore built in Lingang New Area of China (Shanghai) Free Trade Pilot Zone.

"Through the construction of some 12-inch BSI wafer back-end production lines, 12-inch wafer manufacturing pilot lines, some OCF manufacturing and back grinding and cutting production lines, the company has realized the transition from the Fabless model to the Fab-Lite model."

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