Enflame Technology, a Chinese developer of AI chips and related computing systems, will open online and offline subscriptions for its Shanghai STAR Market IPO on Sept. 2. The company plans to issue 43.04 million new shares, or 10% of its post-issue share capital, and aims to raise RMB6 billion.
The planned offering will fund the development and commercialization of Enflame’s fifth- and sixth-generation AI chips, along with projects focused on AI hardware-software collaboration. The company develops cloud AI processors, accelerator modules, computing systems and related software.
Enflame’s IPO application has passed the Shanghai Stock Exchange listing review and received registration approval from China’s securities regulator. The company has not yet turned profitable. [Eastmoney, in Chinese]