Chinese chipmaker Hua Hong Semiconductor mentioned on Sunday it goals to lift as much as 21.2 billion yuan ($2.95 billion)in a list on the Shanghai inventory trade.
The nation’s second-largest chip foundry will promote 407.75 million shares priced at 52 yuan per share, it mentioned in an announcement to the trade.
The IPO by the chipmaker is about to be the most important mainland itemizing this 12 months.
It comes as Chinese chipmakers rush to lift capital as Beijing seeks self-sufficiency in an escalating expertise conflict with Washington.
Hua Hong, which noticed income bounce 52% in 2022 to a file $2.5 billion, has mentioned it’s going to improve capability at its 12-inch manufacturing line in Wuxi this 12 months and can begin to construct new strains.
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Source: economictimes.indiatimes.com