IQE plans flotation to fund expansion

IQE plans flotation to fund expansion
Alex Mayhew-Smith A specialist semiconductor firm International Quantum Epitaxy (IQE) has announced plans to float on the European stock exchange Easdaq. The firm, which was created through the merger of Cardiff-based Epitaxial Products International (EPI) and US firm Quantum Epitaxial Design (QED), manufactures advanced compound semiconductor epitaxial wafers. It hopes to raise $40m through the float. The company said it will use the money raised to fund capacity expansion and exploit the rapidly growing market demand for compound semiconductor merchant foundry services. “We are the first foundry to have achieved critical mass in the outsourcing of compound semiconductor components,” said Drew Nelson, president of IQE. EPI and QED operate as trading subsidiaries for IQE and their semiconductor products are used in optical fibre and wireless communication systems. The epitaxy process, in which numerous ultra thin layers of compound semiconductors are deposited into a crystal substrate, produces semiconductors which are up to ten times faster than silicon wafers.


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