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China's Unisoc looks to cut ties with Tsinghua Unigroup

Mobile chipmaker seeks investors to ditch troubled parent on way to IPO

Unisoc has entered the first tier of global 5G vendors, but potential investors are balking at its self-valuation of 55 billion yuan -- nearly twice as high as what they consider fair value.   © AP

TAIPEI/HONG KONG -- China's No. 2 mobile chip developer Unisoc is searching for new anchor investors at a high valuation as it tries to distance itself from its troubled parent Tsinghua Unigroup and pave the way for a long-awaited initial public offering.

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