AI Chip Boom Drives Han Test to Record-Priced Taiwan IPO

Han Test (7856), a Taiwan semiconductor testing company, has emerged as the most highly valued stock on the island’s emerging-stock market as demand for artificial intelligence and high-performance computing chip testing accelerates. Strong revenue and profit growth have fueled investor expectations for the advanced-chip testing supply chain, making the company’s planned Taipei Exchange listing one of Taiwan’s most closely watched public offerings.

Han Test is scheduled to open its public subscription on Sept. 10 and plans to list in mid-September at a tentative offer price of NT$2,250 per share, the highest underwriting price in Taiwan’s stock-market history. One 1,000-share lot requires about NT$2.25 million. Based on the emerging-market price cited in local reports, a successful applicant could gain roughly NT$2.45 million, but investors face a steep funding requirement, volatile pricing and the risk that shares fall below the offer price after listing.