Shanghai Bright Power Semiconductor (SHA:688368) will be an investor in peer CanSemi Technology's (SHE:301660) initial public offering, according to a Thursday filing with the Shanghai bourse.

The Shanghai-listed semiconductor company will invest about 50 million yuan for up to 4.2 million CanSemi shares, with a 24-month lock-up period from the date of the company's listing in Shenzhen.

CanSemi priced its 512.6 million-share IPO at 12.01 yuan apiece, seeking up to 6.16 billion yuan in proceeds.

Shanghai Bright Power Semiconductor's shares fell 4% during the midday break on Thursday.