Chinese Chip-Equipment Maker CFMEE Targets US$410 Million in Hong Kong IPO
Circuit Fabology Microelectronics Equipment (CFMEE), a Chinese lithography and integrated circuit manufacturer, is preparing for a Hong Kong listing next week. The company plans to offer more than 12.8 million H shares globally, targeting a price range of HK$240.09 to HK$252.73 per share. This initial public offering aims to raise up to HK$3.2 billion (US$410 million) as China pursues semiconductor self-sufficiency amid US sanctions.
Circuit Fabology Microelectronics Equipment (CFMEE), a Chinese manufacturer specializing in lithography and integrated circuits, is scheduled to launch its Hong Kong listing next week.
Based in Hefei, Anhui province, CFMEE announced on Wednesday its intention to offer more than 12.8 million H shares globally. The shares are expected to be priced between HK$240.09 and HK$252.73 apiece. This offering is projected to raise as much as HK$3.2 billion, which converts to approximately US$410 million. The offer period is set to run until next...
This move by CFMEE aligns with China's broader national objective to achieve self-sufficiency in semiconductor technology. This push for independence in chip manufacturing is taking place amidst ongoing US sanctions.
