Beijing-based Vimicro International Corporation was officially listed on NASDAQ at 9:00 a.m. Tuesday (New York Time), signaling landing of China's first IT company with independent intellectual property rights on the world's largest electronic stock market.

The company source said the code of this newcomer stock is VIMC. It issued 8,697,063 shares at one time in NASDAQ, each priced at ten US dollars.

The chief managing underwriter of the stock was Morgan Stanley. Founded in 1999, Vimicro International Corporation is China's leading integrated circuit design company.

The company is well-known for its design, development and sale of embedded multimedia signal processing chips and solutions that enable multimedia applications for mobile phones over 2.5G/3G networks and personal computers over broadband Internet.

Its computer graphic input chip products have already taken more than 60 percent of the world market share.

Insiders say that Vimicro's successful landing on the NASDAQ shows that the chips made in China have already acquired the recognition of international investors and it also signifies that the world market is currently confident in China's high-tech companies, which are growing at a tremendous speed.

Six Chinese companies were listed on the NASDAQ in 2005. Analysts say that more Chinese companies are expected to appear on this stock market this year.

Source: Xinhua