China-based SMEC (Semiconductor Manufacturing Electronics, ShaoXing), an affiliate of China’s top foundry SMIC, has filed an application to launch its IPO on the Sci-Tech Innovation Board (STAR) of the Shanghai Stock Exchange, looking to raise CNY12.5 billion (US$1.86 billion) to finance its 8-inch fab capacity for MEMS, IGBT and MOSFET chips, according to industry sources.