Chip designer to list on SSE STAR Market
Cambricon Technologies Co, an artificial intelligence chip designer, is to list on the SSE STAR Market in Shanghai.
CITIC Securities is the underwriter of the initial public offering, according to a statement on the China Securities Regulatory Commission website.
Founded in 2016, Beijing-based Cambricon offers artificial intelligence technologies and chips. It has invested heavily to build a facility in the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone.
Cambricon hasn't revealed figures of its latest fundraising in May of 2019. It was valued US$2.5 billion after raising “several hundred million” in June of 2018, according to business data researcher Qixinbao.
Firms including Alibaba, iFlytek, Lenovo and TCL are investors in Cambricon.