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CanSemi IPO oversubscribed after push into silicon photonics
Chinese chip foundry CanSemi Technology’s Shenzhen IPO is emerging as a top-demand tech listing on mainland China’s market, supported by investor bets on the company’s push into silicon photonics and its role in domestic artificial intelligence infrastructure, according to SCMP Economy.
The company is based in Guangzhou, and after the share clawback, its retail tranche was oversubscribed by more than 2,300 times, the outlet reported, as trading nears.
When shares begin trading, CanSemi is expected to set a milestone for the Shenzhen exchange as the first pure-play wafer fabrication company to list on the exchange’s tech-heavy ChiNext board, SCMP Economy said.
SCMP Economy also framed the debut as part of the momentum behind one of the most anticipated listings tied to China’s AI buildout.