Chinese semiconductor chip supplier Hangzhou Li-On Microelectronics Co., Ltd, formerly known as Hangzhou Li-On Electronics, has kicked off its IPO subscription exercise as it seeks to raise as much as 1.997 billion yuan ($292 million) on the Main Board of the Shanghai Stock Exchange (SSE).
Backed by Chinese state-owned State Development & Investment (SDIC), Li-On has offered up to 40.58 million common shares at 4.92 yuan ($0.7) apiece, according to the board. Its shares have been oversubscribed 9,382 times.
