TAIPEI (Taiwan News) — Semiconductor equipment maker Hua Yang Precision Machinery Co. on Tuesday completed its public subscription lottery ahead of its planned listing later this month.
The company issued 360 lots, equivalent to 360,000 shares, in its underwriting tranche. The subscription price was set at NT$85 (US$2.7) per share, compared with the stock’s Tuesday closing price of NT$370.
The offering drew strong investor interest because of a potential return of more than NT$300,000. From May 13-15, 698,036 people participated in the subscription, resulting in a lottery win rate of just 0.05%, with each investor allowed to apply for one lot, according to LTN.
Taiwan’s stock subscription system allows companies to attract investors by offering shares below market price to raise capital. When the gap between the underwriting price and market price is large, subscriptions usually increase, and if applications exceed available shares, winners are selected through the Taiwan Stock Exchange’s computerized lottery system, according to KGI.
Hua Yang is currently the only Taiwanese supplier capable of inspecting both deep ultraviolet and extreme ultraviolet photomask particles, a technological capability that has broken a long-standing monopoly held by foreign manufacturers. The breakthrough has enabled the company to enter the advanced process supply chains of major global foundries.
The company’s revenue grew from NT$178 million in 2023 to NT$251 million in 2024, representing annual growth of 41%. Revenue increased a further 24% in 2025 to NT$312 million, indicating continued expansion.
By revenue contribution, imaging inspection equipment accounted for 71.25%. Imaging inspection modules made up 16.3%, and other products contributed 11.65%.
Institutional investors said demand for inspection equipment is expected to keep rising as advanced semiconductor manufacturing requires stricter yield standards. This trend could support further growth for the company.
