CanSemi Seeks 918 Million in Shenzhen IPO
Chinese chipmaker CanSemi Technology aims to raise 918.5 million dollars through a Shenzhen initial public offering. The company plans to fund wafer production projects and working capital with the proceeds. Subscriptions for the offering open on Thursday.
Insights:
China chipmaker CanSemi Technology is seeking to raise 6.16 billion yuan ($918.5M) in an upcoming Shenzhen listing. The offering follows a share price set at 12.01 yuan, per a company filing released on Wednesday morning. The move comes as domestic semiconductor manufacturers accelerate funding rounds to expand domestic production capacity.
