Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

State-Owned Chinese Chipmaker Unisoc Set to Raise 5 Billion Yuan

By Qin Min and Mo Yelin / Mar 18, 2020 04:09 PM / Business & Tech

Photo: VCG

Photo: VCG

Unisoc, the chip-making unit of state-owned Tsinghua Unigroup Co., is set to complete its 5-billion-yuan ($713 million) fundraising, amid China’s efforts to build up the country’s chip-making capacity.

Two investors – the state-backed China Integrated Circuit Industry Investment Fund and another fund backed by the Shanghai government – will each invest 2.25 billion yuan in Unisoc, said a person close to the company, adding the rest will come coming from other sources.

In October, Unisoc announced that the company planned to raise up to 5 billion yuan, with the corresponding stake in the company being capped at 9.09%. Based on those figures Unisoc is valued at 56 billion yuan.

The source said the deal has entered its final stage and will be closed after some “paperwork.” After the deal, Tsinghua Unigroup will remain as Unisoc’s largest shareholder, the source added.

Read the full story on Caixin Global later.

Contact reporter Mo Yelin (yelinmo@caixin.com)

Related: In Depth: Coronavirus Just the Latest Hurdle to Local Government’s Chipmaking Dreams


Share this article
Open WeChat and scan the QR code