Guangzhou chipmaker CanSemi Technology is seeking RMB6.16B ($918.5M) from a Shenzhen listing after pricing its shares at RMB12.01 each.
Yuexin Semiconductor Technology is the registered name behind that brand. The offer runs to 512.6 million new shares, a figure that sets aside any overallotment; should underwriters exercise that option in full, the share count climbs to 589.54 million and gross proceeds to RMB7.08B. Of the shares on offer, half go to strategic investors, a group that includes Alibaba Cloud’s Feitian information technology unit, Goodix Technology and Biwin Storage.
The wafers CanSemi turns out, 12-inch in size, go to chip designers whose parts end up in vehicles, industrial control systems, consumer electronics and AI applications. Working capital and 12-inch wafer production projects are the two destinations the company names for the money.
The listing adds another mainland foundry to a domestic supply chain being built to reduce reliance on foreign manufacturing, at a moment when Chinese demand from AI accelerators and automotive chips is climbing. Cornerstone allocations of this size are common on the mainland, where strategic investors anchor deals and signal policy support.
It also lands while Chinese chipmakers push to list locally rather than in Hong Kong, part of a broader shift in how the country’s semiconductor companies raise public capital.
