On April 7, Sai MicroElectronics announced its board approved a plan for subsidiary Swedish Silex to go public on Nasdaq Stockholm. Silex, the world's largest pure-play MEMS foundry, is 45.24% owned by Sai Micro. The IPO aims to raise up to SEK 1 billion.
The move is a strategic shift due to geopolitical risks. In 2025, Sai Micro had already transferred control of Silex, turning it from a wholly-owned unit into a key equity associate.
According to Yole's 2025 MEMS report, Silex ranks #1 globally, followed by Teledyne MEMS, TSMC, X-FAB, and SMEC.
If successful, the listing will boost Silex's market presence and resilience. Sai Micro's board-nominated directors will resign, and its decision-making influence will drop significantly. Valuation and timing remain uncertain.
ICgoodFind:Top MEMS foundry Silex heads for IPO. Geopolitics reshapes ownership – industry eyes on Nasdaq Stockholm.
