BaTelab, a 13 year-old Chinese analogue company based in Suzhou backed by the car manufacturer BYD, raised $52.8 million in an IPO on the Hong Kong stock exchange yesterday.
Later yesterday, the company’s shares fell below their IPO price.
The money raised will go to R&D, product development and strategic investments.
The company had revenues of $45 million in 2022 but revenues fell 26% in H1 2023.
The company’s products include analogue signal processing chips, PMICs, ADCs, op amps, switching power supplies, linear regulators, charging management, LED drivers, voltage references and clock oscillators.
