Carey Olsen advises on Smarter Microelectronics' ¥1.5 billion IPO

June, 2023 - Bermuda, Bermuda

SmarterMicro, the PRC entity of radio frequency front-end chip manufacturer Smarter Microelectronics, was listed on the STAR Market on 16 May 2023 following its IPO that raised RMB ¥1.504 billion gross. The funds are intended to support SmarterMicro's plans to build a chip testing centre, its global headquarters and a research and development centre.

Working alongside onshore PRC counsel Zhong Lun Law Firm, the Carey Olsen team advising SmarterMicro on the Cayman Islands legal aspects of its IPO was led by Singapore managing partner Anthony McKenzie and assisted by counsel Susan McKinstray and associates Maggie Yan and Eng How Cheow.

The Carey Olsen team advised on the pre-IPO restructuring, due diligence on the ownership and historical share transactions of the company, alignment and satisfaction of requirements from the China Securities Regulatory Commission.

Anthony McKenzie commented: "We are pleased to have advised SmarterMicro on its ¥1.504 billion IPO, demonstrating Carey Olsen's expertise in advising on listing on the STAR Market. Established in 2019, the Shanghai based STAR Market has quickly become a pre-eminent capital market for Asian tech-focussed companies. We look forward to seeing the growth of SmarterMicro following its successful application and listing on the STAR Market."

Founded in 2011, SmarterMicro is a chip design company that provides radio frequency front-end chips for smart phones, the Internet of Things, and other fields. Its clients include Samsung, OPPO, Vivo as well as other major smart phone manufacturers.