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<IPO> VeriSilicon Microelectronics Files for HKEX Listing; A-Share Mkt Cap Exceeds RMB110B
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VeriSilicon Microelectronics (688521.SH), an A-share listed company, announced that it submitted an application yesterday (1st) to the Hong Kong Stock Exchange (00388.HK) for an initial public offering (IPO). CITIC Securities and UBS are acting as joint sponsors. Based on the closing price on that day, VeriSilicons A-share market capitalization was RMB117.279 billion. According to the prospectus, the company intends to use the fundraising proceeds to invest in the research and development of key technologies and core businesses. This includes spending over the next five to ten years on recruiting, training and retaining R&D talent; procuring R&D and engineering materials and equipment; further developing its global marketing network; and pursuing strategic investments or acquisitions that generate synergies with its core businesses to enhance its IP portfolio, service offerings and market access strategy. On the financial front, full-year revenue last year reached RMB3.148 billion, up 35.9% YoY, while losses narrowed to RMB528 million. (ta/w) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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