The HK$780 million initial public offering by mainland chipmaker CSMC Technologies Corp is back on, even though the company has yet to set a timetable for the Hong Kong listing. CSMC, which runs a six-inch wafer facility in Wuxi, delayed the issue late last month amid widespread gloom in the capital markets. It had also halved the size of the public offering from the original HK$1.56 billion target. In the past two weeks, however, technology counters have recovered from their lows and investor sentiment has warmed to new initial offerings. The company was confident it could go forward with its listing, spokeswoman Cecilia Lee said, although 'there's no firm schedule at this moment'. CSMC chairman and chief executive Peter Chen will visit Hong Kong this week to promote the issue. The firm plans to spend US$76 million this year boosting production at its six-inch wafer plant and $322 million building an eight-inch wafer facility. Citigroup is sponsoring the offer.