BEIJING (Reuters) – Chinese language chipmaker Hua Hong Semiconductor stated on Sunday it goals to boost as much as 21.2 billion yuan ($2.95 billion)in an inventory on the Shanghai inventory alternate.
The nation’s second-largest chip foundry will promote 407.75 million shares priced at 52 yuan per share, it stated in a press release to the alternate.
The IPO by the chipmaker is about to be the largest mainland itemizing this yr.
It comes as Chinese language chipmakers rush to boost capital as Beijing seeks self-sufficiency in an escalating know-how battle with Washington.
Hua Hong, which noticed income bounce 52% in 2022 to a file $2.5 billion, has stated it would improve capability at its 12-inch manufacturing line in Wuxi this yr and can begin to construct new strains.
($1 = 7.1861 Chinese language yuan)
(Reporting by Dominique Patton and Amy Lv; Modifying by Jacqueline Wong)
