By Rajasik Mukherjee
July 8 (Reuters) - China's Nexchip Semiconductor said on Wednesday it aims to raise around HK$6.98 billion ($890.37 million) in its Hong Kong share sale by pricing the offering at the top end of its range to benefit from the city's revitalised capital market.
The chipmaker is offering 216.2 million shares at HK$32.30 apiece, according to its prospectus.
Nexchip plans to spend more than HK$3.5 billion from the proceeds on research and development and another HK$1.5 billion on AI-powered systems to integrate research, development and production processes.
Chinese chipmakers are stepping up investment in manufacturing technology and artificial intelligence as Beijing pushes for greater semiconductor self-sufficiency.
July 8 (Reuters) - China's Nexchip Semiconductor said on Wednesday it aims to raise around HK$6.98 billion ($890.37 million) in its Hong Kong share sale by pricing the offering at the top end of its range to benefit from the city's revitalised capital market.
The chipmaker is offering 216.2 million shares at HK$32.30 apiece, according to its prospectus.
Nexchip plans to spend more than HK$3.5 billion from the proceeds on research and development and another HK$1.5 billion on AI-powered systems to integrate research, development and production processes.
Chinese chipmakers are stepping up investment in manufacturing technology and artificial intelligence as Beijing pushes for greater semiconductor self-sufficiency.
21 days ago
