The world's leading TV monitor chip manufacturer, MStar, went public in the Taiwan stock market on Friday at 300NT per share, which scored a 10% gain, at 330NT, on the first day. But some analysts say that its performance was still weaker than expected.

The IPO price for Mstar was NT$300 on the 24th, with it went to NT$347 at the opening of the TaiEx market, which is a 15.6% increase. Around noon, the price drop back to NT$331, still leading all other stocks.

M Star is going to focus on the R and D of mobile phone chips solutions, makingit a potential competitor of Mediatek.

Mstar was established in 2007, specialize in making LED, mobile phone consumer electronic design; it is now the leader in the industry taking 50% of market share.

Many are saying that workers working the hardest in the industry are with the company for it not only offers 20% cut of revenue to employees, it also offers a month of paid vacation to its employees of over 5 years.

Mstars board of directors only hold 5% of the company stock, which is an industry low, the price adjustment of 5 times also stirred up discussions.

Mstar pointed out that many pricing were just estimated for document filing purpose, thus the changes.

The first day of IPO did not created price comparison between IC shares and MStar did not perform as well as expected.

however, it is expected to be able to take over at least 10% of Mainland

Chinese mobile phone market in 2011