IQE plc: Planned IPO of IQE Taiwan on TWSE

IQE plc

Cardiff, UK

31 July 2024

IQE announces plans for the IPO of Taiwan operating subsidiary on the Taiwan Stock Exchange

IQE plc (AIM:  IQE, "IQE" or the "Group"), the leading global supplier of compound semiconductor wafer products and advanced material solutions, is pleased to announce the planned initial public offering ('IPO') of the Group's Taiwanese operating subsidiary ('IQE Taiwan') on the Taiwan Stock Exchange ('TWSE').

The Group intends to list IQE Taiwan on the TWSE and to sell a minority shareholding through a public offering. It plans to retain control of IQE Taiwan and will continue to leverage its strategic value, with the proceeds of the public offering intended to be utilised across the Group to fund the growth strategy.

Whilst the process is currently at an early stage, IQE has engaged Taishin Securities Co. Ltd as its financial advisor to assist in preparing IQE Taiwan for the IPO. The IPO will be a two stage process, with the initial phase of listing on the Emerging Market Board expected in H1 2025, subject to usual regulatory procedures and requirements. Further transaction details and information regarding the process will be released as appropriate.

Americo Lemos, Chief Executive Officer of IQE, commented:

"This is an exciting opportunity for IQE and will accelerate the investment in our strategy for growth as we capitalise on the market opportunities ahead, including in GaN Power. A successful IPO of IQE Taiwan will allow us to maximise the value of our asset whilst continuing to offer a secure and resilient supply chain for our global customers."

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Jutta Meier

Amy Barlow

Peel Hunt (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Ben Cryer

Kate Bannatyne

Adam Telling

Deutsche Numis (Joint Broker)

+44 (0) 20 7260 1000

Simon Willis

Hugo Rubinstein

Iqra Amin

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Chloe Francklin: +44 (0)78 3497 4624

ABOUT IQE

http://iqep.com

IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:

·    Smart Connected Devices

·    Communications Infrastructure

·    Automotive and Industrial

·    Aerospace and Security

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the global market and is enabling customers to innovate at chip and OEM level. By leveraging the Group's intellectual property portfolio including know-how and patents, it produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with employees across eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.

ABOUT TAISHIN SECURITIES CO. LTD

Taishin Securities is a comprehensive securities firm, with its business covering brokerage, proprietary trading, underwriting, and providing a fully functional electronic trading platform.  It is integrated with the resources of Taishin Financial Holding to provide services through nearly 100 branches of Taishin Bank, with the goal of providing comprehensive and diversified financial management services. Taishin Securities has successfully helped 15 companies get listed (IPO) since 2022, the highest number in the industry.