Simply Wall St.72d agoneutral
AXT (AXTI) Withdraws Tongmei STAR IPO And Turns To Hong Kong ListingBeijing Tongmei Xtal Technology, the majority-owned subsidiary of NasdaqGS:AXTI, has withdrawn its planned IPO on Shanghai's STAR Market. The company is now pursuing a listing on the Hong Kong Stock Exchange instead. This shift activates significant redemption rights for private equity investors in Beijing Tongmei Xtal Technology. AXT, a producer of compound semiconductor substrates, operates at the intersection of demand for materials used in telecoms, data centers, power electronics and...