Basic Semiconductor (09971) Prices at HK$31.62, Up 7.91% on First Trading Day

According to Smart Finance, semiconductor company Basic Semiconductor (09971) listed on Hong Kong stock exchange today, pricing at HK$31.62 per share. The company issued 27.39 million shares and raised approximately HK$766 million in net proceeds. By market close, the stock traded at HK$34.12, up 7.91%, with HK$204 million in trading volume.

According to Frost & Sullivan, Basic Semiconductor ranked sixth in China's silicon carbide (SiC) power module market by 2024 revenue with 2.9% market share, placing third among domestic peers. The company specializes in SiC power device research, manufacturing and sales, with primary applications in new energy vehicles.