Sidea Semiconductor Equipment (Shenzhen) (SHE:301629) launched an initial public offering of up to 545.4 million yuan on the Shenzhen Stock Exchange.

The semiconductor testing equipment company looks to issue 10,431,819 shares at 52.28 yuan apiece, according to a Friday bourse filing.

The shares to be issued account for 25% of the entire share capital. Sidea expects to hold 41,727,274 shares after the IPO, the filing said.

China Merchants Securities (HKG:6099, SHA:600999) is the sponsor and lead underwriter of the offering.