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Tencent-Backed Chipmaker Enflame Targets 6 Billion Yuan From Shanghai IPO

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Shanghai Enflame Technology (SHA:688801) has priced its initial public offering on the Shanghai Stock Exchange's STAR Market board, seeking to raise up to 6.12 billion yuan, according to a bourse filing on Tuesday.

The chip developer, backed by Tencent Holdings (HKG:0700), is offering 43 million shares priced at 142.18 yuan apiece. The shares account for 10% of Enflame's share capital post-IPO.

Online and offline subscriptions will begin Wednesday, Sept. 2.

CITIC Securities and Guotai Haitong Securities are serving as joint lead underwriters for the IPO.

What else is happening in Asia?

Asia

Sany Heavy Industry Plans Up to 10 Billion Yuan Asset-Backed Securities Issue

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HKG:6031SHA:600031
Asia

Tencent Unveils Hy4 Preview Open-Source AI Model

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HKG:0700
Asia

Samsung Heavy Industries Bags KRW445 Billion Container Ship Project

Samsung Heavy Industries (KRX:010140) secured a 444.5 billion won contract to build two container ships for an unnamed African buyer, according to a filing with the Korean bourse on Monday.The contract is valid from Aug. 28, 2026, to Dec. 27, 2028. Payment will be made as construction progresses, the filing said.Shares of Samsung Heavy Industries fell more than 2% in recent trade.

KRX:010140