Xiaomi-backed robotics chip designer clears hearing, eyes US$100m Hong Kong IPO: sources
Zhuhai Amicro Technology, a robotics chip designer backed by Xiaomi, is preparing for a Hong Kong initial public offering (IPO) exceeding US$100 million. The company secured approval from the Hong Kong Exchanges and Clearing (HKEX) last week, clearing its final regulatory hurdle. Sources indicate that premarketing could commence as early as this week, with bookbuilding slated for next week. A trading debut is targeted for mid-October, marking a significant step for the Chinese chipmaker.
Amicro Technology’s IPO underscores the ongoing push for domestic chip design in China. A US$100 million raise is modest, but the Xiaomi backing is significant. This reflects a broader trend of Chinese tech giants investing in local semiconductor capabilities. The goal is to reduce reliance on foreign technology.
Hong Kong’s exchange benefits from this listing. It shows the city remains a viable option for Chinese tech IPOs, despite market volatility. This offers a counterpoint to some companies choosing US listings. Amicro’s debut will test investor appetite for robotics-focused chipmakers in the current climate.
The thing to watch is Amicro’s post-IPO performance. A strong debut could encourage more Chinese chip startups to list in Hong Kong. Conversely, a weak showing might push others to delay or reconsider. This IPO provides a real-time gauge of confidence in China’s domestic chip sector.
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