Developing Story
China Chip IPO Wave
A wave of Chinese semiconductor companies, including CanSemi Technology with a planned $919 million IPO, are going public on Chinese exchanges as Beijing pushes for tech self-reliance.
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Chinese chip foundry CanSemi Technology is seeking to raise about 6.16 billion yuan ($919 million) in an IPO on the Shenzhen Stock Exchange's ChiNext board, joining a growing list of semiconductor companies capitalizing on Beijing's drive for tech self-reliance (Bloomberg, September 23). This reflects a broader wave of Chinese chip companies going public as the government pushes for domestic semiconductor independence amid ongoing export restrictions and geopolitical tensions over technology supply chains.