ACM Research’s operating subsidiary ACM Research (Shanghai) completes its IPO and … | Nation / world
FREMONT, Calif., Nov. 18, 2021 (GLOBE NEWSWIRE) – ACM Research, Inc. (“ACM” or the “Company”) (NASDAQ: ACMR), a leading provider of wafer cleaning technologies for advanced semiconductor devices, today announced that it that the operating subsidiary ACM Research (Shanghai), Inc. (“ACM Shanghai”) has completed its IPO and its shares are traded under the share code on the Sci-Tech InnovAtion Board of the Shanghai Stock Exchange (the “STAR Market”): 688082 , on November 18, 2021 (Chinese time).
At the time of the IPO, ACM Shanghai issued 43,355,753 shares, which is 10% of the total of 433,557,100 shares outstanding after the IPO. The shares were issued at a public offering price of RMB 85.00 per share, and the gross proceeds of the IPO were -proximately RMB 3.685 billion ( -proximately $ 577 million based on November 17, 2021 exchange rates). Upon completion of the IPO, ACM owned -proximately 82.5% of the outstanding shares of ACM Shanghai.
The President and Chief Executive Officer of ACM, Dr. David Wang commented: “The successful IPO of ACM Shanghai is an important milestone for the company. I would like to thank the great teams at ACM Shanghai, ACM and the entire underwriting team for the hard work and dedication. I would also like to thank our customers, partners and shareholders for their continued support. “
Dr. Wang continued, “We are confident that a listing on the STAR market will allow ACM Shanghai to better align its c -ital structure with ACM’s mission to become a global player in the semiconductor equipment industry. We will continue to invest in research and development to enhance the c -abilities of our current product portfolio and expand our products into two new areas to support plans to expand our addressable market size to more than $ 10 billion. We believe that listing on the STAR market combined with ACM’s current listing of Class A common shares on the Nasdaq Global Market will further support efforts to scale our business in mainland China and broaden business opportunities in Korea, Taiwan region, J -an and the United States and Europe. “
Of the shares issued as part of the IPO, 7,699,357 shares were issued through direct placement to strategic investors, including Haitong Innovation Securities Investment Co., Ltd., Shanghai Guosheng (Group) Co., Ltd., Shanghai Pudong Kechuang Group Co., Ltd. ., Shanghai Technology Venture C -ital Co., Ltd., Shanghai Huali Microelectronics Co., Ltd., Beijing Yitang Tongzhou Equity Investment Center LLP, Will Semiconductor CO., Ltd. Shanghai, Shanghai Zhangjiang Science & Technology Venture C -ital Co., Ltd. and CICC Fortune, which is funded by certain members of management and other employees of ACM Shanghai.
About ACM Research, Inc.
ACM develops, produces and sells semiconductor processing equipment for wet cleaning of individual wafers or batches, electroplating, stress-free polishing and thermal processes, which are of decisive importance for the advanced manufacture of semiconductor components as well as for wafer-level packaging. The company strives to provide bespoke, high-performance, and cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield.
© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this mark -pears without a ™ symbol in this press release, but this practice does not mean that ACM Research is not making full claims under -plicable law, his rights to this trademark.
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