Chinese chipmaker Hua Hong seeks up to $2.95 billion in mainland listing

BEIJING: Chinese chipmaker Hua Hong Semiconductor said on Sunday it aims to raise up to 21.2 billion yuan ($2.95 billion)in a listing on the Shanghai stock exchange.

The country’s second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchange.

The IPO by the chipmaker is set to be the biggest mainland listing this year.