Silex Microsystems AB surged in its first day of trading on Nasdaq Stockholm after an initial public offering that raised about 2 billion Swedish kronor ($220 million) for the specialist microchip-maker and its Chinese shareholder Sai MicroElectronics Inc.

The debut marked the strongest open for a sizable European IPO in almost five years, after cornerstone investors took the majority of the shares in the offering and the deal was oversubscribed several times.