Sino-American Silicon Products Inc.’s (SAS) affiliate, Taiwan Speciality Chemicals Corporation (TSC, stock code: 4772), a leading provider of comprehensive solutions for advanced transistor manufacturing, has successfully completed its initial public offering (IPO) auction today with impressive results. The IPO was conducted with an 80% auction and 20% public subscription method, organized by Yuanta Securities. The auction, held on the morning of September 5, concluded successfully at the stock exchange, with a remarkable weighted average price of NT$137.99. The oversubscription rate reached 4.7 times, and the public subscription price was set at NT$110, reflecting strong market expectations for TSC’s growth potential.
TSC offered a total of 6,800,000 shares in the auction, conducted using a U.S.-style bidding system. The process attracted 3,302 qualifying bids, with a total of 32,001,000 shares bid for, resulting in a notable 4.7x oversubscription rate. The lowest successful bid was NT$132.31, while the highest reached NT$150. The weighted average price of the winning bids was NT$137.99. Institutional investors showed strong participation, with an impressive winning bid rate of 36.72%, significantly higher than the average in recent auctions. This strong institutional support underscores confidence in TSC’s future growth prospects. Additionally, the weighted average price of NT$137.99 represents an 11% discount to the NT$155.5 average price on the Emerging Stock Market as of the closing day, a favorable result despite ongoing financial market volatility, highlighting investor optimism toward the company.
Following the successful auction, TSC will officially be listed on the Taipei Exchange in the coming weeks, further strengthening SAS’s position in the semiconductor materials market. With SAS’s resources and strategic collaborations, TSC is poised to leverage its leadership in materials development and manufacturing, contributing to a world-class semiconductor materials supply chain and enhancing the overall capabilities of the SAS Group.
About TSC
Founded on March 27, 2013, and chaired by Doris Hsu, TSC specializes in the production of specialty electronic gases (SEG) and specialty electronic chemicals (SEC) for the semiconductor industry. TSC’s flagship product, disilane, is a critical silicon-based compound for chemical vapor deposition (CVD) processes, a key material for advanced semiconductor manufacturing. The company boasts the world’s largest single production line for disilane and excels in ultra-high purity gas synthesis and purification technology, with the capability to produce both disilane and trisilane. Trisilane is another essential material for future silicon-based compound films, and TSC has proactively positioned itself to meet the needs for specialty gases required in even more advanced future processes.
In process design, TSC has made early investments in reducing carbon emissions and energy consumption, cutting energy use by over 70% compared to competitors while generating no solid waste. This positions TSC as a leader in sustainability, ready to meet the demands of a carbon-neutral future.
Looking ahead, TSC is strategically located at the heart of the global advanced semiconductor manufacturing hub and boasts a solid foundation in precision gas development and production. With extensive know-how in global hazardous chemical logistics, ample industrial land for expansion, and qualified supplier status with multiple top-tier semiconductor clients, TSC is well-positioned to rapidly introduce new products and capitalize on growth opportunities in the semiconductor sector. As the industry expands in response to the rapid development of AI, TSC aims to strengthen its niche market share for specialty gases, pursuing R&D and strategic partnerships to produce high-value, irreplaceable specialty materials, further solidifying its position as a world-class provider of comprehensive solutions for advanced transistor manufacturing.