Xiaomi-backed chip developer VeriSilicon gets green light for $111m STAR Market IPO

Xiaomi-backed chip developer VeriSilicon gets green light for $111m STAR Market IPO

Photo by Alexandre Debiève on Unsplash

VeriSilicon Microelectronics, a Chinese semiconductor firm backed by Xiaomi and China’s Big Fund, has received the go-ahead from the Shanghai Stock Exchange (SSE) to float its shares on the Nasdaq-style STAR Market.

The Shanghai-based company, which claims a valuation of no less than 3 billion yuan ($421 million), plans to sell about 48.32 million shares in the offering.

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