No Ceiling in Sight: HanmiTech Sets Record IPO Price, With a Winning Lot Worth More Than NT$2.5 Million

HanmiTech has pushed Taiwan’s IPO price record higher. The semiconductor testing equipment maker announced a provisional underwriting price of NT$2,250 ahead of its planned over-the-counter listing in late September.

The price breaks the previous record of NT$1,495, set by Hon Precision at the end of last year. HanmiTech’s emerging-market shares have recently fluctuated between about NT$4,750 and NT$5,000. If the market price remains near that range, an investor who wins one lot through the public subscription could see a spread of more than NT$2,500 per share, or more than NT$2.5 million for a lot of 1,000 shares.

That potential gain comes with a large entry requirement. Participants would need NT$225,000 to take part in the lottery, and the return would depend on the eventual trading price.

HanmiTech belongs to the HannStar-related Hanmin Group and focuses on semiconductor testing equipment and probe cards. The company has benefited from demand linked to artificial intelligence. Revenue in the first half reached NT$2.185 billion, up 114.5% from a year earlier. Gross margin stood at 54.88%, while net profit rose 389.36% to NT$584 million. Earnings per share reached NT$21.50.

The company scheduled its IPO process in stages: competitive bidding from Sept. 7 to 9, public subscriptions from Sept. 10 to 14, employee payments from Sept. 15 to 16, and payments for the competitive auction and public subscription on Sept. 16 and Sept. 15, respectively. Specific investors were scheduled to pay between Sept. 17 and 18.