support-seen-for-himax-following-sizeable-ipo

Support seen for Himax following sizeable IPO

Growth prospects seen outweighing cyclical risks for largest tech IPO this year.
Himax Technologies may have fallen 2.8% in its first day of trading on Nasdaq last Friday, but strong bidding from large investors in the aftermarket indicated good support for the fabless IC design house at current valuations, market watchers said yesterday.

In early US trading Monday, the stock was up 3.4% at an above-IPO price of $9.05.

The company raised $468 million in the largest initial public offering from a technology company globally this year. The sale also marked the largest IPO from a Taiwanese company since Chunghwa Telecom went public in 2000.

With no big block trades expected from either Taiwan Semiconductor Manufacturing Corp or United Microelectronics Corp, Himax could well end up being...
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