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Chinese CPU designer Loongson looks for $500m in STAR IPO

Proceeds to go to R&D as government relies on company for tech self-reliance

Loongson is one of China's few CPU designers with independent know-how in a market dominated by Intel and AMD.   © AP

Loongson Technology on Monday filed for an IPO on Shanghai's Nasdaq-style STAR Market, as the central processing unit designer looks to raise 3.5 billion yuan ($544 million) amid a government drive to cut China's reliance on overseas technology suppliers.

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