Sai Microelectronics has made an announcement stating that its board of directors has given the green light to the 'Proposal for the Overseas Listing of Silex, its Equity Subsidiary in Sweden'. At present, Sai Microelectronics, along with its wholly-owned subsidiary, collectively owns a 45.24% equity stake in Silex, Sweden. In a strategic move to bolster Silex's business growth and ensure its long-term prosperity, Sai Microelectronics has decided to support Silex's initial public offering (IPO) on Nasdaq Stockholm, Sweden. To streamline this process, the company has empowered its chairman or general manager to manage pertinent tasks, including account setup and agreement signing, within a 12-month timeframe. It's worth noting that this decision does not involve a related-party transaction or a significant asset restructuring, thereby eliminating the need for submission to the shareholders' meeting for further deliberation.