Chinese chip designer GigaDevice raises $610m from Singapore's GIC, others

Chinese chip designer GigaDevice raises $610m from Singapore's GIC, others

Photo by Alexandre Debiève on Unsplash

Shanghai-listed chip designer GigaDevice Semiconductor has raised 4.32 billion yuan ($610 million) from five investors, including Singapore’s sovereign wealth fund GIC Pte, through a private placement of shares.

According to a recent filing with the Shanghai Stock Exchange, Beijing-based GigaDevice offered nearly 21.22 million shares at a price of 203.78 yuan ($28.80) apiece. Other investors that participated in the private placement are state-owned investment platform Qingdao City Construction Investment; Bosera Asset Management, which is China’s second-biggest fund house by assets under management; and two individual investors.

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