Integrated circuits maker O2Micro International is set to become the first Nasdaq-listed firm to secure a secondary listing in Hong Kong.
According to an investment banker, it could set a precedent for other Nasdaq companies, although he added that it would suit only businesses with China exposure whose image building and marketing would benefit from a Hong Kong listing.
O2Micro, an integrated circuits maker for power management and computer security applications, has significantly increased its mainland presence in the past few years, opening a research and development facility and a warehouse in 2001 and setting up an integrated circuit test centre last month.
The company planned to tap the market for about $800 million and was close to receiving approval from the Hong Kong stock exchange which could see it make its unique secondary listing next month or early next year, sources said.
Hong Kong-listed internet portal operator China.com earlier this year expressed interest in applying for a listing on Nasdaq but it has been rare for Nasdaq-listed companies to seek a secondary listing in Hong Kong.
Two years ago, it was reported that Nasdaq-listed communications equipment provider UTStarcom planned a secondary listing in Hong Kong but nothing happened.