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Information from the Shenzhen Stock Exchange on Thursday shows that BYD Semiconductor updated its financial documents, and that its official review for a public listing has resumed.
BYD Semiconductor Co. ltd, a subsidiary of BYD, announced on Tuesday that it successfully developed and mass-produced BF1181, a 1200V power device driver chip.
BYD has officially placed an order with chipmaker Hangzhou Silan for automotive IGBTs, totaling 100 million yuan ($16 million).
The Shenzhen Stock Exchange released an announcement on Thursday stating that it had suspended the IPO review of BYD Semiconductor.
According to the prospectus, the firm plans to raise 2.686 billion yuan ($422.5 million) in the transaction.
According to the listing committee of the Shenzhen Stock Exchange, on Thursday, BYD Semiconductor, a subsidiary of Chinese EV maker BYD, will get its IPO application accepted on January 27th.
BYD's chip-making arm BYD Semiconductor has put into production an 8-inch automotive power chip project in eastern China's Shandong province.