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IPO

Apple supplier Goertek's sensor unit halts China IPO over COVID

Microelectronics developer cites impact of rising infections on application process

Goertek Microelectronics had applied to list on Shenzhen's ChiNext board. (Photo by Noriko Okemoto)

SHANGHAI -- Goertek Microelectronics will pause its application for an initial public offering in Shenzhen as a rise in coronavirus cases in China complicates the company's preparations.

A unit of Apple supplier Goertek, Goertek Microelectronics develops microelectromechanical systems (MEMS) -- tiny devices like pressure sensors used in smartphones, drones and wireless earphones.

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