Chinese venture capital firm ,WI Harper Group, announced that SemiLEDs made its 5.3 million shares of initial public offering on the Nasdaq Global Market exchange with the ticker symbol of LEDS.
SemiLEDs’ initial public offering was priced at $17 each, and increased 52% in value on opening day. SemiLEDs posted a profit of $10.8 million for the year ending August 31, 2010 based on $35.8 million in revenue.
Resources from the public offering will be used to expand manufacturing, research & development and corporate initiatives that will support international growth and drive gains in market share.
As a sole venture capital investor, WI Harper has supported SemiLEDs’ to start construction of a new $350 million production facility in Foshan, China with an initial monthly production capacity of 20 million LED chips and aspirations to grow three fold in three years.
Add, WI Harper also facilitated the relationship between SemiLEDs Corp. and Lite-On Technology Corp.
About WI Harper
Founded in 1993, WI Harper Group is a venture capital firm that invests in early and expansion stage companies with significant operations in China and aspirations to become global leaders. The firm manages $500 million in capital from offices in Beijing, Taipei and San Francisco.
