China’s power module firm StarPower raises $73m in Shanghai IPO

Photo: Reuters

Jiaxin-headquartered power module firm StarPower Semiconductor Ltd has raised 510 million yuan ($73 million) in an initial public offering on the Shanghai Stock Exchange (SSE), according to a statement.

A further breakup of the numbers shows that StarPower has issued 40 million shares at 12.74 yuan apiece ($1.8). The company’s stock opened 44.03 per cent higher with its market value exceeding 2.9 billion yuan ($414 million) on Tuesday.

Established in 2005, StarPower designs and manufactures semiconductor devices, catering to diverse sectors such as electric vehicles, inductive heating, solar power, and welding machines.

The company launched a subsidiary in Shanghai New Energy Vehicle Science Park (with a focus on EVs) in 2013. Subsequently, in 2014, StarPower set up StarPower Europe AG with its head office in Switzerland, and opened a European R&D Center in Nuremberg, Germany.

StarPower is looking to spruce up its IGBT modules (three-terminal power semiconductor devices) for EV applications, and upgrade its technology R&D centre.

The company plans to contribute significantly to the ‘Made in China 2025’ initiative, in an attempt to advance its domestic technologies and shake off reliance on imported products.

Earlier, in 2011, StarPower closed an undisclosed Series A funding round from private equity management firm Sinowisdom, that is active in sectors such as artificial intelligence (AI), big data, healthcare and internet.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.