Tech Insider: CPU-Maker’s Shanghai IPO, IQiyi Denies Rumor Baidu Wants Out

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

CPU maker Loongson seeks $357 million in Shanghai IPO

Chinese CPU-maker Loongson Technology Co. Ltd. has completed online subscription for its public share sale, paving the way for a planned debut on Shanghai’s high-tech STAR Market.

Loongson aims to raise 2.42 billion yuan ($357 million) through the IPO, down from a previously announced 3.5 billion yuan. The offering includes 41 million shares, 80% of which were sold online to public investors.