Micro-LED Developer PlayNitride Gets Listed in Taiwan
According to the Taiwan Stock Exchange, shares of Micro-LED producer PlayNitride (6854.TT) began trading today. PlayNitride is the first company to be trading on the new Taiwan Innovation Board, similar to that of the Chinese Innovation Board that has less onerous requirements than standard trading platforms on those exchanges. The original deal was for a maximum of 6.305m shares at a maximum price of 138 NT$, and while final trading results are not in quite yet, it seems the deal came at $NT$ 127 and closed 9.9% higher at NT$139.5, after trading 597k shares. We will note deal value when we have actual shares completed, although preliminary value was ~.5b US$..
The company has posted 3 months of monthly data (May – July), with July sales of NT$37.419m (~1.24m US), up 93% y/y, and full year sales of NT$122m ($4.05m US) in 2020 and NT$205m ($6.8m US) in 2021, with operating income of NT$-792m ($-26.3m US) and NT$-1.24b ($-41.13m US) respectively, with capex in those years of NT$327m ($10.85m US) and NT$232m ($7.7m US). PlayNitride’s chairman stated that the company is to become (a/the?) major micro-LED chip producer over the next two to three years. As the first listed pure play in micro-LED PlayNitride will be closely watched.
The company has posted 3 months of monthly data (May – July), with July sales of NT$37.419m (~1.24m US), up 93% y/y, and full year sales of NT$122m ($4.05m US) in 2020 and NT$205m ($6.8m US) in 2021, with operating income of NT$-792m ($-26.3m US) and NT$-1.24b ($-41.13m US) respectively, with capex in those years of NT$327m ($10.85m US) and NT$232m ($7.7m US). PlayNitride’s chairman stated that the company is to become (a/the?) major micro-LED chip producer over the next two to three years. As the first listed pure play in micro-LED PlayNitride will be closely watched.
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