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Aditya Hadi Pratama · · 1 min readSources: Chinese chipmaker SigmaStar eyes $780m IPO on Shanghai exchange
“SigmaStar is seeking to raise at least 5 billion yuan (around US$780 million) in an initial public offering in Shanghai,” Bloomberg reported, citing people familiar with the matter.
Details:
- The Chinese startup is working with advisers to execute a share sale on the Shanghai Stock Exchange Science and Technology Innovation Board (STAR), a science and technology-focused equities market.
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A source said that SigmaStar is targeting a valuation of between 30 billion yuan and 50 billion yuan (around US$4.7 billion and US$7.8 billion).
Context:
- Founded in 2017, SigmaStar designs chips that can be used in security systems, sports cameras, self-driving vehicles, and smart home devices.
- The potential IPO can help the company capitalize on the demand surge amid the global shortage in computer chips supply.
Currency converted from Chinese yuan to US dollar: US$1 = 6.4 yuan.
Editing by Collin Furtado and September Grace Mahino
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