BEIJING : Chinese chipmaker Hua Hong Semiconductor said on Sunday it aims to raise up to 21.2 billion yuan ($2.95 billion)in a listing on the Shanghai stock exchange.The country's second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchang
BEIJING : Chinese chipmaker Hua Hong Semiconductor said on Sunday it aims to raise up to 21.2 billion yuan in a listing on the Shanghai stock exchange.
The country's second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchange.It comes as Chinese chipmakers rush to raise capital as Beijing seeks self-sufficiency in an escalating technology war with Washington. Hua Hong, which saw revenue jump 52 per cent in 2022 to a record $2.5 billion, has said it will increase capacity at its 12-inch production line in Wuxi this year and will start to build new lines.
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