Hua Hong to raise $2.95bn

Author: EIS Release Date: Aug 2, 2023

Hua Hong, the Shanghai foundry which started off in 1996 as a DRAM jv with NEC, is to raise $2.95 billion in a listing on the Shanghai stock exchange.

 

Hua Hong merged with Grace Semiconductor in 2000 and dropped DRAM in 2003 to become a foundry.

 

The company runs three 200 mm fabs and three 300 mm fabs and its most advanced process is 22nm. It is building a fourth 300mm fab at Wuxi.

 

With the China government keen to boost its semiconductor industry’s capabilities, the offer is likely to be a success. The proceeds will be spent on boosting capacity at Wuxi.

 

 

 

 

Hua Hong had revenues of $2.5 billion last year – up 52% on 2021.