Beijing-based private equity firm Infinity Group says that its portfolio company, Suzhou-based Wafer Level Chip Scale Package (WLCSP), has listed on the Shanghai Stock Exchange, raising a total of US$118 million, according to a company announcement.
WLCSP is established in 2005 after Infinity helped bring semiconductor technology of Israeli company Shellcase from Jerusalem to China. The Suzhou-based company's business is to provide wafer-level chip-scale packaging services.
"WLCSP is among the first patch of Chinese companies allowed to IPO in China after a long hiatus," says Infinity's founder, Amir Gal-Or. "As the first company to list in the A-share market in the year of horse, WLCSP (is unique) as an Israeli venture backed company to list in China based on Israeli technology."
The IPO follows the A-share listing of another Infinity-backed company, Chinese IT service provider DCITS, via a reverse merger on December 30, 2013.
Infinity and China Singapore Suzhou Industrial Park Ventures Co. invested US$73 million in DCITS in 2008 as part of a spinoff of the company from Digital China Holdings Ltd.