Taiwan-based CPU IP provider Andes Technology, of which MediaTek holds a 15% stake, saw its share price soar by 191.09% to close at NT$189.50 (US$6.14) from the initial price of NT$65.10 during its debut on the Taiwan Stock Exchange (TSE) on March 14.
Andes provides CPU IP products with IC design houses to manufacture chips for communication, smartphone, IoT, storage and automotive applications.
According to Andes, eight of the top-15 IC design houses in Taiwan, as well as three of the top-10 IC design companies in Korea, are its clients.
The company has signed over 165 IP licensing agreements with related IC design companies, and chips rolled out by these IC makers have exceeded 1.8 billion units, according to a Chinese-language Economic Daily News (EDN)report.
The company's stock price dipped NT$19.50 to finish at NT$170 on the TSE during its second trading session on March 15.