CanSemi Tech Joins China Chip IPO Wave With $919 Million Deal

AI Summary

CanSemi Technology Inc., a Chinese chip foundry, is planning to raise about $919 million through an IPO on the Shenzhen stock exchange’s ChiNext board. This move aligns with China's push for technological self-reliance in the semiconductor industry.

Chinese chip foundry CanSemi Technology Inc. is seeking to raise about 6.16 billion yuan ($919 million) in an initial public offering on the Shenzhen stock exchange’s ChiNext board, joining a growing list of companies in the industry capitalizing on Beijing’s drive for tech self-reliance.