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Stock impact report

China AI chip firm Biren to launch Hong Kong IPO in coming weeks, sources say [Yahoo! Finance]

QUALCOMM Incorporated (QCOM) 
Last qualcomm incorporated earnings: 4/29 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: qualcomm.com/info/investor-relations
Company Research Source: Yahoo! Finance
The IPO could raise $300 million, local Chinese media reported. One of the sources ?confirmed the number to Reuters. The Shanghai-based company, along with other domestic rivals, is banking on rapid growth as China seeks to develop ?domestic alternatives to U.S. semiconductors amid stringent export restrictions by Washington on advanced chips. Biren could kick off the offering as early as this month and debut in January, said two of the sources. According to a Monday notice from the China Securities Regulatory Commission (CSRC), Biren plans to issue up to 372.5 million shares in Hong ?Kong and its shareholders will convert ?873.3 million onshore shares into Hong Kong-listed stock. The sources declined to be identified as the information was confidential. Biren did not respond to a Reuters query for ?comment. CHINA'S CHIP AMBITIONS Beijing has prioritised building homegrown champions in graphics processing units (GPUs), which are critical for artificial intelligence develo Show less Read more
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