Chinese chipmaker Nexchip Semiconductor plans to raise up to $890.3 million through a Hong Kong share sale, joining a broader wave of mainland technology firms tapping capital markets to fund semiconductor and AI expansion.
China’s Nexchip Semiconductor is seeking to raise up to $890.3 million through a Hong Kong share sale, as Chinese chipmakers accelerate fundraising to expand capacity and strengthen AI-linked capabilities.
According to a regulatory filing, the company plans to offer 216.2 million shares at a maximum price of about $4.12 per share, aiming to increase as much as $890.3 million. Trading in the H shares is expected to begin on July 10.
According to Reuters, the fundraising comes amid strong activity in Hong Kong’s capital markets, with several Chinese technology firms pursuing fresh listings and share sales. Apple supplier Luxshare Precision recently announced plans for a share sale worth up to $3.10 billion, highlighting sustained investor interest in technology and semiconductor plays.
Nexchip said about 53.6% of the proceeds will be used for research and development, particularly for optimisation of its 22-nanometre technology platform. Part of the funds will also support production initiatives linked to AI technologies.
However, the company expects lower net profit in 2026 compared with the previous year, mainly due to increased depreciation costs from its new production facility.
The prospectus also showcased that cornerstone investors include an investment unit of Chinese automaker Chery Automobile, reflecting institutional confidence in the chipmaker’s long-term growth.
