By Li Panpan

(JW Insights) Aug 7 -- China's Hua Hong Semiconductor debuted on the Shanghai Stock Exchange's STAR Market on August 7. It raised nearly RMB21.2 billion ($2.95 billion) through the share sale, with the issue price at RMB52($7.23) per share, according to the Exchange announcement.

As of the morning of August 7, Hua Hong's total market value reached RMB89.91 billion($12.50 billion). It's the largest sale of new equity in the Asia Pacific region this year, said a Bloomberg report on August 7.

Founded in 1996 and based in Shanghai, Hua Hong Semiconductor is the world's leading foundry with unique process technology and was listed on the Main Board of the Hong Kong Stock Exchange in 2014, said its website.

Data from TrendForce shows that the company is the world's largest smart card IC foundry and the largest Chinese MCU foundry of embedded non-volatile memory chips. It also has the world's largest production capacity of power device and is the only company with both 8-inch and 12-inch power device foundry capabilities.

According to IC Insights, the company ranked sixth in the 2021 global wafer foundries by business revenue.