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Retail orders ran to more than 6,000 times the shares available
Enflame Technology, one of China's leading AI chipmakers, will open share subscriptions on September 2 for its 6 billion yuan ($892.21 million) IPO on Shanghai's tech-heavy STAR Market, a regulatory filing showed late on Monday. The chipmaker, backed by technology company Tencent Holdings, will issue 43.04 million new shares, representing a 10% stake in its enlarged share capital of approximately 430 million shares, with preliminary price consultations set to begin on August 28, the filing showed. Founded in 2018, Shanghai-based Enflame is grouped alongside Moore Threads, MetaX, and Biren
Tencent-backed AI chipmaker plans STAR board debut as revenue is expected to more than triple in the first half.
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