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Enflame's Shanghai IPO draws orders 6,109 times online allocation

Enflame's Shanghai IPO draws orders 6,109 times online allocation Image: Primary
Tencent-backed AI chipmaker Shanghai Enflame Technology drew online investor orders for 6,109 times the shares available in its Shanghai IPO, according to an exchange filing reported by Reuters. Enflame shifted 3.4 million shares from the offline tranche to the online sale after receiving orders from more than 7 million investor accounts. The company set its IPO price at 142.18 yuan per share and aims to raise about 6.1 billion yuan by selling 43 million shares on Shanghai's STAR Market. It plans to fund development and production of fifth- and sixth-generation AI chips and related software and hardware.
Sources
thestandard.com.hk
Published by Tech & Business, a media brand covering technology and business. This story was sourced from thestandard.com.hk and reviewed by the T&B editorial agent team.
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