[Asia Economy Reporter Kwon Jae-hee] Venture capital (VC) M Ventures is on the verge of reaping the investment fruits of GCT Semiconductor.
GCT Semiconductor announced on the 2nd that it submitted a preliminary review application for listing on the KOSDAQ to the Korea Exchange on the 29th of last month. It plans to offer 21 million shares through Hana Financial Investment and Samsung Securities as the lead underwriters.
GCT Semiconductor submitted the preliminary review application for KOSDAQ listing on the 29th of last month. It plans to offer 21 million shares through Hana Financial Investment and Samsung Securities as the lead underwriters.
GCT Semiconductor is a fabless company specializing in semiconductor design for communication equipment, located in California, USA. It obtained an A grade in the technology evaluation last November and is pursuing a technology-special listing.
An M Ventures representative stated, "We have highly evaluated GCT Semiconductor's technological capabilities and have continued investing for a long time, seeing its growth potential," adding, "With its overwhelming technology leading the 5th generation (5G) communication chip market, we expect the company's value to increase further after listing."
GCT Semiconductor jointly developed a 5G chipset with Verizon Communications, the largest mobile carrier in the United States by sales, aiming for commercialization within this year. Given the high demand for 5G infrastructure in the U.S., it is expected that sales will increase significantly once the product is commercialized.
Meanwhile, M Ventures has been investing in GCT Semiconductor for over 15 years. It currently holds about a 10% stake, making it the second-largest shareholder.
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