January 29, 2022



AXT applies for IPO of subsidiary Tongmei on Shanghai’s STAR Market

AXT Inc of Fremont, CA, USA – which makes gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) substrates and raw materials – says that its formal application to list shares of its Beijing-based Tongmei Xtal Technology Co Ltd wafer manufacturing subsidiary in an initial public offering (IPO) on the Sci-Tech innovAtion boaRd (STAR Market) has been accepted for review by the Shanghai Stock Exchange. AXT’s strategic plan to access China’s capital markets and progress to an IPO by Tongmei on the STAR Market was originally announced on 16 November 2020…