Shanghai, China--On Nov 11, 2015, Brite Semiconductor (Shanghai) Cooperation has held the group re-structuring meeting for IPO in 2017, and has targeted the upcoming Strategic Innovation Board on the Shanghai Stock Exchange which will be revealed around the mid of 2016.
Brite Semiconductor has signed a cooperation agreements with JingTian & GongChen Attorneys at Law, Haitong Securities Co.Ltd, and Deloitte for preparing IPO.
The purpose of Brite group re-structuring is to reform the structure of group shareholding rights to meet the requirement of IPO set by the Shanghai Stock Exchange. Along with the reforming, Brite will have a clear shareholding structure, flexible business model, and efficient incentive scheme to attract and retain management team and engineering forces to secure stakeholders’ interest.
During the meeting, Brite Board has approved the proposal of re-structuring presented by lawyer, and agreed to increase the stock option pool for retaining staffs and recruiting talents for next 3 years. The due diligence investigation has been scheduled immediately after the meeting. The whole reforming progress has been moving forward firmly.
About Brite Semiconductor
Brite Semiconductor is a leading ASIC design services company providing customers with ASIC/SoC chip design and manufacturing services. The company was co-founded by Semiconductor Manufacturing International Corporation and Open-Silicon, as well as venture capitalist firms from China and Silicon Valley. As strategic partners, SMIC provides Brite Semiconductor strong technical and manufacturing support and leverages Brite’s design capabilities in test chip development. Targeted at advanced processing nodes to 28nm with high-end SoC design services, Brite Semiconductor provides customers with flexible design and turn-key services. Brite offers customers RTL/netlist to seamless chip delivery with enhanced economic value for low-risk solutions. For more information, please refer to the Brite Semiconductor website at www.britesemi.com.