Six year-old SigmaStar Technology of Xiamen, China, a subsidiary of MediaTek, intends to raise $424 million in an IPO on the ChiNext market of the Shenzhen Stock Exchange at a $4.2 billion valuation, reports the Nikkei.

The ChiNext market concentrates on startups.

IMG_2844-150x150.png80% of SigmaStar’s revenues come from sales of chips for surveillance cameras for which it has 36.6% world market share according to Frost & Sullivan. 

SigmaStar makes ICs for  IP Cam, USB Cam, NVR, DVR, car electronics, sports cameras, smart homes, smart displays, security, automotive and has a 51.8% market share for chips for USB videoconferencing cameras.

 

In May 2021 there were reports that SigmaStar would IPO on the Shanghai Star market but the prospective offer didn’t go ahead.