Enflame Technology, a Chinese artificial intelligence chipmaker, priced its initial public offering at 142.18 yuan ($21.16) per share on Shanghai's STAR Market, the exchange's technology-focused board.
The offering will consist of 43.04 million shares, with proceeds expected to total 6.12 billion yuan. The IPO marks Enflame's debut on the STAR Market, which supports high-growth domestic technology companies in China.
The chipmaker, which develops processors for AI applications, joins a pipeline of Chinese tech firms listing in Shanghai as regulators seek to bolster domestic innovation amid global supply chain constraints.
