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Taiwan’s MediaTek eyes listing for Bluetooth chip division

Airoha Technology makes chips for Apple’s Beats, Sony, JBL, Xiaomi

MediaTek chip. (MediaTek image)

MediaTek chip. (MediaTek image)

TAIPEI (Taiwan News) — Fabless chipmaker MediaTek intends to take its Bluetooth chip division public on the Taiwan Stock Exchange.

MediaTek will first list Airoha Technology on the country’s Emerging Stock Market by the end of June, sources told Nikkei. According to Taiwanese regulations, Airoha must list on the Emerging Stock Market for a minimum of six months before it can file for an initial public offering on the Taiwan Stock Exchange.

In its most recent private placement financing round, Airoha offered 10% of shares to select institutional investors and venture capital funds for NT$650 (US$22.74) per share. That values Airoha at around NT$94.5 billion, based on its current 145 million shares, per the report.

MediaTek said that Airoha is currently filing out the necessary applications for the Financial Supervisory Commission’s Securities and Futures Bureau in advance of listing on the emerging market.

Airoha provides Bluetooth chips for customers like Apple’s Beats, JBL, Sony, and Xiaomi. It also makes chips for routers, switches, networking equipment, and internet infrastructure.