Key facts
- A robotics chip designer backed by Xiaomi has cleared a regulatory hearing.
- The company is aiming to raise approximately $100 million through its IPO in Hong Kong.
- The funds raised will be used for research and development and market expansion.
A Chinese robotics chip designer, which counts Xiaomi among its backers, has successfully passed a regulatory hearing, moving closer to its planned initial public offering in Hong Kong. The company aims to raise around $100 million through the listing. The funds are earmarked for enhancing its research and development capabilities and for expanding its market reach. The successful hearing is a significant step in the company's journey towards becoming a publicly traded entity.