Apacer Technology is scheduled to list on the Taiwan Stock Exchange (TSE) on December 29 at NT$21 (US$0.70), according to the memory module maker. Ahead of the listing, the company plans to sell 15.04 million new shares in an initial public offering (IPO) to raise up to NT$316 million.

Apacer is currently traded on Taiwan's Emerging Stock Board (ESB). Its shares closed at NT$31.80 on December 22.

Apacer saw net profits increase 35.7% on year to NT$292 million in the first three quarters of 2010. The earnings translated into an EPS of NT$2.62, the second highest among publicly-listed DRAM module companies in Taiwan, behind only Transcend Information's NT$2.79.

Apacer was quoted as saying in previous reports the company intends to reduce its dependence on standard DRAM and NAND flash devices, while growing sales of higher-margin products such as solid-state drives (SSD) used in industrial-control and embedded solutions. Currently DRAM modules account for almost 50% of Apacer's overall revenues followed by memory cards with about 20%.