Chinese chip firms to list in Europe

Greater China Precision Components plans to sell up to 28 million new shares in an initial public offering in Germany. This will make the company the third Chinese company to seek a listing in Germany this year. The company will use the proceeds of the IPO to expand factories in China, CNN reported. Flextronics is among the company’s biggest customers. CNN also reported that Chinese chip card maker Vtion may also list on the Prime Standard segment of the Frankfurt stock exchange by the end of this year.