Intel-backed Chinese chipmaker UNISOC seeks to raise $706m ahead of IPO

UNISOC, an Intel-backed Chinese semiconductor firm that specialises in developing chipsets for mobile communications and internet of things (IoT), is planning to raise up to 5 billion yuan ($706 million) ahead of a planned initial public offering (IPO) on the country’s newly-launched STAR Market.

UNISOC, a subsidiary of state-backed semiconductor conglomerate Tsinghua Unigroup, is offering up to a 9.09 per cent stake as part of the fundraising at an expected valuation of about 55 billion yuan ($7.76 billion), the company recently said in a filing with the China Beijing Equity Exchange (CBEX).

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