Chinese auto chip designer Black Sesame to raise up to US$143 million in Hong Kong IPO

Quick Summary:

Black Sesame’s listing initiative in Hong Kong would follow the successful initial public offering in June of Tencent Holdings-backed QuantumPharm.

The company has already raised US$695.8 billion through 10 rounds of funding from investors that include Nio Capital, the investment arm of electric vehicle maker Nio, as well a venture capital fund under smartphone giant Xiaomi.

For companies with at least HK$250 million in sales in the financial year before their IPO, the minimum valuation was slashed to HK$6 billion from HK$8 billion.

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Article Details

Author / Journalist: Wency Chen

Category: Business

Markets: Hong Kong

Topics: Year Billion Million Chip Sesame Capital Kong Hong Listing Black 2023

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 18:00:12 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21870576

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