Xiaomi-backed robotics chip designer clears hearing, eyes US$100m Hong Kong IPO: sources
Zhuhai Amicro Technology, a Xiaomi-backed chipmaker, is preparing to begin premarketing for a Hong Kong initial public offering (IPO) of more than US$100 million as early as this week, according to people familiar with the matter. The company passed its listing hearing with bourse operator Hong Kong Exchanges and Clearing (HKEX) last week, clearing the final regulatory hurdle for a share sale in…
Xiaomi-backed robotics chip designer Amicro Technology is set to begin premarketing for a Hong Kong IPO worth over US$100 million, according to sources. The company successfully cleared its listing hearing with Hong Kong Exchanges and Clearing (HKEX) last week, clearing the final regulatory hurdle for the share sale. However, as HKEX has not yet published a public listing document, specific financial details have not been disclosed.
Amicro plans to commence bookbuilding next week, with a potential trading debut in mid-October. The company received approval from the China Securities Regulatory Commission in August for the IPO, which allows it to issue up to 90.9 million shares. Founded in 2014, Amicro develops robotics chips, hardware platforms, and algorithms, with applications in household and commercial cleaning robots.
Major customers include Xiaomi and Midea Group, and the company has shipped over 10 million units to date. Headquartered in Zhuhai, Amicro is the first company from the Guangdong-Macau In-Depth Cooperation Zone to earn national "little giant" status, recognizing specialized and innovative small and medium-sized enterprises with core technologies and strong market positions.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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