TAIPEI (Taiwan News) — Taiwanese chipmaker Powerchip held a ceremony to celebrate its public listing on Monday (Dec. 6), with Chairman Huang Chong-ren (黃崇仁) thanking employees and shareholders and making forecasts for the company’s growth into 2022.

Powerchip is currently the world's sixth-largest foundry, yet based on the number of orders it has in, Huang says it will soon be the fifth-largest, per a UDN report. Powerchip was listed on the Taiex for NT$49.88 (US$1.80) per share and rose to a high of NT$78.9 per share within a day’s trading.

Huang is confident the company will continue to grow off the back of the surging demand for chips worldwide. To keep up with orders, Powerchip has constructed a new facility in Miaoli County’s Tongluo Township.

The company has hurried to list on the stock market, he says, so they can get more capital from investors and build more foundries. Huang says the main driver for the rising demand is the growing electronic vehicle industry, which is likely to remain robust in the future.