Nexchip Semiconductor Seeks $890 Million in Hong Kong Share Sale

Nexchip Semiconductor, China’s third-largest pure-play foundry, is set to raise up to $890 million in a share sale in Hong Kong. The Hefei-based chipmaker, backed by the state, is offering 216.2 million shares at a maximum price of HK$32.30 each, with trading scheduled to commence on 10 July. This move adds to a recent surge of Chinese semiconductor companies entering the market after a prolonged period of dormancy. Nexchip’s listing marks a significant milestone as it merges its presence in Shanghai with a Hong Kong float, paving the way for international capital infusion. The company, following SMIC and Hua Hong…