Chinese AI chipmaker Axera Semiconductor to raise $379 million via Hong Kong IPO

Chinese artificial intelligence chipmaker Axera Semiconductor is aiming to raise ‍HK$2.96 billion ($379.2 million) in an ​initial public offering in Hong Kong, a regulatory filing ⁠showed on Friday.

The proceeds are earmarked for upgrading its technology platform and developing new products, as well as sales expansion, potential equity investments or acquisitions and working ‌capital and ‌general corporate purposes, the filing said.

Axera, formerly Shanghai Zhiaixin Semiconductor Technology, is backed by investors including ‌Qiming Venture Partners and Tencent, is offering 104.9 million shares at HK$28.20 each, according to the filing.