TAIPEI/HONG KONG -- Embattled Chinese chipmaking conglomerate Tsinghua Unigroup is looking to sell part of its stake in its Unisoc unit to raise cash, a move which could also help revive plans for an initial public offering of the key mobile chip affiliate, four people familiar with the development said.
Tsinghua Unigroup, which has missed a series of bond payments since December, is open to investor pitches to sell down its stake to raise cash. The company, the largest shareholder in Unisoc, may offload at least a 10% stake.
