Loongson files US$542 million IPO on Star Market as China’s home-grown chip maker raises capital to fund its growth

//Loongson files US$542 million IPO on Star Market as China’s home-grown chip maker raises capital to fund its growth

Loongson files US$542 million IPO on Star Market as China’s home-grown chip maker raises capital to fund its growth

Loongson Technology, a producer of semiconductor chips under China’s largest scientific think tank, has filed an initial public offering (IPO) in Shanghai, raising capital to finance its role in spearheading the country’s attempt at developing its own home-grown chip.The company, based in the Chinese capital city, aims to sell up to 41 million shares to raise 3.5 billion yuan (US$542 million) on Shanghai’s Nasdaq-like Science and Technology Board, better known as the Star Market, according to…

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By | 2021-06-29T05:19:43+00:00 June 29th, 2021|Technology|Comments Off on Loongson files US$542 million IPO on Star Market as China’s home-grown chip maker raises capital to fund its growth