Market Chatter: Enflame Tech Gets Nod for Shanghai IPO
MT Newswires Live15:09
Shanghai Enflame Technology obtained approval for an initial public offering on the Shanghai Stock Exchange's STAR board, according to Bloomberg News on Monday, citing a prospectus from the company.
The chipmaker, which is backed by Tencent (HKG:0700), plans to raise up to 6 billion yuan from the IPO, according to the report.
Proceeds from the IPO will be used for the development and production of artificial intelligence cloud chips, the report said.
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