Chinese memory chip manufacturer Jiang Bolong plans to go public in Hong Kong with no more than HK$6.28 billion in financing to join the wave of AI hardware supply chain companies going to Hong Kong. According to the listing documents released by Jiang Bolong on Monday, the company plans to issue about 26 million shares at a sale price of no more than HK$240.6 per share, a discount of about 45% from the closing price of A-shares listed in Shenzhen last Friday. Jiang Bolong is expected to be listed in Hong Kong on September 8. The company's A-shares have risen about 50% since this year. According to the terms of the deal seen by the media, if the right to increase distribution is exercised, the maximum amount of capital raised can reach 1.06 billion US dollars, and the maximum market value of the corresponding company is about 24.9 billion US dollars. Jiang Bolong plans to use the proceeds raised to support chip design and research and development of advanced storage technology. Driven by strong demand and rising memory chip prices, the company's revenue in the first half of the year more than doubled year-on-year to RMB 24.1 billion, and net profit increased about 700 times to 10.6 billion yuan.

Chinese memory chip manufacturer Jiang Bolong plans to go public in Hong Kong with no more than HK$6.28 billion in financing to join the wave of AI hardware supply chain companies going to Hong Kong. According to the listing documents released by Jiang Bolong on Monday, the company plans to issue about 26 million shares at a sale price of no more than HK$240.6 per share, a discount of about 45% from the closing price of A-shares listed in Shenzhen last Friday. Jiang Bolong is expected to be listed in Hong Kong on September 8. The company's A-shares have risen about 50% since this year. According to the terms of the deal seen by the media, if the right to increase distribution is exercised, the maximum amount of capital raised can reach 1.06 billion US dollars, and the maximum market value of the corresponding company is about 24.9 billion US dollars. Jiang Bolong plans to use the proceeds raised to support chip design and research and development of advanced storage technology. Driven by strong demand and rising memory chip prices, the company's revenue in the first half of the year more than doubled year-on-year to RMB 24.1 billion, and net profit increased about 700 times to 10.6 billion yuan.