Golden Flag Represents Will Semiconductor on its $445 Million GDR Offering

Golden Flag International Law Firm advised Will Semiconductor Co., Ltd. Shanghai (“Will Semiconductor”) (SHA: 603501), a global leading fabless semiconductor company, in its $445 million offering of 31,000,000 global depositary receipts (GDRs), each representing one A share of Will Semiconductor. The GDRs are listed on SIX Swiss Exchange under the symbol “WILL.” The offering closed on November 10, 2023.

Distinguished by its advanced proprietary technologies, diversified products and solution portfolio, flexible fabless business model and extensive customer network and supply chain ecosystems, Will Semiconductor is recognized as one of the world’s top 10 fabless semiconductor companies by revenue.

The transaction marked the largest offshore listing by a China-based semiconductor company since 2005, with a market capitalization of over $19 billion at the time of the listing.

The Golden Flag team was led by capital markets partner Mengyu Lu, with support from capital markets partner Ming Kong.