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China-based fabless chip supplier Intchains Group (ICG) has filed for a proposed $29M US preliminary public providing.
Intchains stated in its submitting that it was trying to supply 3.6M American Depositary Shares, priced between $7 and $9 apiece, which would increase round $29M if priced on the midpoint. Underwriters could be granted an possibility to purchase as much as 536K extra shares.
The corporate hopes to record its shares on Nasdaq below the image ICG. Maxim Group is serving as lead bookrunner.
Included within the Cayman Islands, Intchains operates by way of subsidiaries in China. The corporate focuses on ASIC chips and associated software program and {hardware} for blockchain purposes.
For 2021, Intchains reported internet earnings of $71M on income of $99M.
For extra on Intchains, try SA contributor Donovan Jones’s “Intchains Begins US IPO Effort”.
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