Xiang Ligang, director-general of the Information Consumption Alliance, a telecom industry association, said Loongson chips have been used in China's space program, finance, energy and other fields so far. It also created the architecture for central processing units, or CPUs.
The firm was behind China's first self-developed general purpose microprocessor. In 2010, it was spun off as a separate entity to commercialize its chip development research. Loongson's journey as a business started in 2001 with a research team under the Chinese Academy of Sciences. Loongson's plans dovetail with Chinese technology companies' efforts to strengthen the security of supply chains and achieve self-sufficiency in crucial technologies.īeijing-based Loongson's IPO is expected to be made on the STAR Market, or the Science and Technology Innovation Board of the Shanghai Stock Exchange, with up to 41 million shares likely to be up for sale, potentially netting 3.5 billion yuan ($542 million). Ĭhinese chipmaker Loongson Technology is banking on its upcoming IPO in Shanghai to beef up its research and production of advanced semiconductor technologies. Visitors gather at chipmaker Loongson's booth during an expo in Nanjing, Jiangsu province. The company said it plans to use the proceeds to enhance its supply chain and open nearly 700 stores in China over the next two years. Nayuki's share sale has attracted a group of cornerstone investors, including UBS Asset Management, China Universal Asset Management, GF Fund, China Southern Asset Management and CCB International, according to its prospectus. Nayuki, whose popular fresh-fruit teas include cheese-foam-topped beverages, has set up over 560 stores in more than 70 cities at home and abroad within five years since its founding. "The tea, as one of China's most representative products and culture, has a great opportunity to expand overseas to become a global brand, especially amid China's rising power and globalization trend," said Nayuki's founder, Peng Xin. Institutional books closed a day earlier than scheduled due to demand. The stock opened trading at HK$18.86.ĭespite the cooling performance, the IPO raised $656 million and the retail portion was subscribed 432 times. The Shenzhen-based company closed at HK$17.12 ($2.21) on Wednesday, lower than its initial public offering price of HK$19.80, valuing it at HK$29.4 billion.
Ĭhinese leading bubble tea company Nayuki made its debut on the Hong Kong stock exchange on Wednesday, which made it the country's first listed milk tea chain. A selection of beverages and bread from Nayuki.
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