Silian Optoelectronics Plans IPO in 2013
CHONGQING, Sep 11, 2012 (Menafn - SinoCast Daily Business Beat via COMTEX) --Chongqing Silian Optoelectronics Science & Technology Co., Ltd. announced the expansion of financing channels on September 10 and the launch of shareholding reform on September 30 to kick off IPO in domestic market within next year.
Chongqing Silian Optoelectronics Science & Technology acquired the sapphire plant of world's top 500 enterprise, Honeywell International Inc. HON, in 2008 with a total investment of USD 19.8 million to absorb the globally leading LED technology. From that time on, the company has been favored by venture capital funds and has so far raised CNY 1 billion.
Currently, most Chinese LED epitaxial chip plants have to rely on export for the needed sapphire substrates, while the acquisition of Honeywell's sapphire plant by Chongqing Silian Optoelectronics Science & Technology has filled the gap for the domestic LED industry, which will ensure the great success of the company in the domestic LED industry.
Source: news.cqnews.net (September 11, 2012)
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