Chinese chip designer Kiwimoore has confidentially filed for a Hong Kong initial public offering, targeting a valuation of approximately $2 billion. The Shanghai-based company, which designs networking technology for artificial-intelligence accelerators, plans to list in the first half of 2027. Kiwimoore has selected CITIC Securities and ABC International to lead the offering. The move comes as Kiwimoore capitalizes on Beijing's push for semiconductor self-sufficiency amid U.S. technology export restrictions.
Kiwimoore Hong Kong IPO
- ▪Kiwimoore plans to list on the Hong Kong stock exchange in the first half of 2027.
- ▪Chinese chip designer Kiwimoore has confidentially filed for an initial public offering in Hong Kong, according to two sources with knowledge of the matter.
- ▪Kiwimoore is targeting a valuation of approximately $2 billion for its planned Hong Kong initial public offering.
- ▪Kiwimoore, CITIC Securities, and ABC International did not respond to requests for comment regarding the planned Hong Kong initial public offering.
- ▪Kiwimoore has selected CITIC Securities and ABC International to lead its planned Hong Kong initial public offering.
AI chip networking technology
- ▪Shanghai-based semiconductor designer Kiwimoore was founded in early 2021.
- ▪Kiwimoore designs networking technology used to link artificial-intelligence accelerators inside computing clusters.
China semiconductor self-sufficiency strategy
- ▪Kiwimoore has positioned itself to capitalize on Beijing's push to build a self-sufficient artificial-intelligence chip supply chain.
- ▪The United States government restricted exports of advanced technologies, including semiconductor chips, to China.
July funding round
- ▪Kiwimoore raised approximately 700 million yuan ($103.79 million) in a funding round in July.
- ▪Kiwimoore was valued at 8 billion yuan during its July funding round, according to a source with knowledge of the matter.
Story comments
Loading comments…