Integrated Memory Logic, a Silicon Valley chipmaker, will today begin trading as the Taiwan Stock Exchange's first foreign initial public offering.
IML, which designs chips that control the flow of electrical power inside large flat-screen televisions, raised T$1.4bn ($44m) through the offering after pricing shares at T$143, in the middle of the range, over the weekend.
Yong E Park, chairman and chief executive of IML, said it had considered listing on Nasdaq, the Tokyo Stock Exchange and the Hong Kong Stock Exchange, but opted for Taiwan because it was more suitable for a small to medium sized company.
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