On September 1, MacMic Science & Technology Co., Ltd., a leading high power chip, discrete, and module manufacturer and supplier, announced to successfully issue 24.62 million shares of IPO at RMB 27.51 per share on the Science and Technology Innovation Board of Shanghai Stock Exchange. MacMic (Stock Code: 688711) leverages the resources from the capital market through the IPO expected to raise RMB 677.39 million. The fund will be used to expand its production capacity, build an R&D center, and to supplement its working capital.

The IPO is another fruit yielded from the Longcheng Talent Plan. It is the seventh enterprise to go public this year in Changzhou, becoming the 78th listed company in Changzhou. Municipal leaders, including Party Secretary Chen Jinhu, Head of the Organization Department Ji Peidong, attended the IPO ceremony.

MacMic Science & Technology Co., Ltd is a national key high-tech company consisting of scientists and engineers with expertise in power electronics, who have been engaged in the development and production of power electronic products for a long time at home and abroad. The company is awarded as a National High-Tech Industrialization Demonstration Base by the NDRC and authorized as a Drafter of National Standard for IGBT and FRD. It boasts a postdoctoral innovation program base and an engineering research center for the new type of high frequency power semiconductor device.

In his speech, Deputy Mayor Li Lin pointed out that, as the capital market matures in China, a number of hard-tech enterprises have taken off. He hopes that companies will step up reforms so as to achieve leapfrog development. In the future, all government departments and agencies will create a more conducive environment for the companies to carry out the shareholding system reform and develop direct financing.