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China tech

Intel-backed Chinese chipmaker UNISOC looks to raise $700m

Tsinghua Unigroup subsidiary plans listing on new STAR market

Shanghai's STAR market was created to channel funds from Chinese investors into smaller, higher-risk startups. (Source photo by Getty Images)

HONG KONG -- UNISOC, an Intel-backed Chinese semiconductor firm that specializes in developing chipsets for mobile communications and internet of things, is planning to raise up to 5 billion yuan ($706 million) ahead of a planned listing on the country's newly launched STAR Market.

UNISOC, which is also a subsidiary of state-backed semiconductor conglomerate Tsinghua Unigroup, is offering up to a 9.09% stake. This would value the company at about 55 billion yuan, according to its filing with the China Beijing Equity Exchange.

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