Wintech, which is Ambarella's largest customer, owns 7.6% of Ambarella ahead of the portfolio company's flotation.

Ambarella, a US-based semiconductor company for high-definition video processing backed by Taiwanese peer Wintech Microelectronics, plans to raise $65m in its flotation on an undisclosed stock exchange.

Wintech, which is Ambarella’s largest customer, owns 7.6% of the portfolio company with venture capital firms Benchmark Capital, Walden International and Matrix Partners 18.4%, 15% and 13.2% respectively.

Investment banks Morgan Stanley and Deutsche Bank are co-lead underwriters for the initial public offering of Ambarella, which had $13.9m in net income on…