ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Markets

China chipmaker Hygon makes strong debut on Shanghai startup market

Fabless company's market cap reaches $20bn with stock doubling from offering price

Hygon makes high-end processors based on Intel technology, but is grappling with U.S. sanctions. (Photo courtesy of Hygon)

SHANGHAI -- Chinese chipmaker Hygon Information Technology debuted Friday on the market here for technology startups at almost double its initial public offering price, giving it a market capitalization of 139.6 billion yuan ($20.7 billion).

The stock opened at 70 yuan on the Shanghai Stock Exchange's tech-focused STAR market, 94% higher than the IPO price of 36 yuan, buoyed by strong growth expectations.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more