Key facts
- CFMEE is seeking up to $410 million in a Hong Kong IPO.
- The IPO aims to support China's drive for semiconductor self-sufficiency.
- CFMEE plans to use proceeds for investments, acquisitions, R&D, and capacity expansion.
- The listing has secured 17 cornerstone investors, including JPMorgan Asset Management and Hillhouse Investment affiliates.
Lingyi iTech Guangdong has begun accepting investor orders for its Hong Kong listing, aiming to raise up to $1.06 billion. China's top securities regulator has expressed support for more domestic listings, particularly from AI developers and Hong Kong-traded firms, anticipating at least 17 IPOs in Hong Kong during June.
Meanwhile, Chinese lithography and integrated circuit manufacturer CFMEE is preparing for its Hong Kong IPO, seeking to raise up to US$410 million. This move aligns with China's strategic push for semiconductor self-sufficiency amidst US sanctions. The company plans to allocate significant portions of the IPO proceeds to strategic investments, acquisitions, research and development, and expanding production capacity. The offering has attracted substantial interest from cornerstone investors, including entities affiliated with the Hefei municipal government and major asset management firms.