The Xiaomi, Intel and Samsung-backed semiconductor and silicon production services provider is valued at more than $420m and is set to float in Shanghai.
China-based semiconductor technology provider VeriSilicon Microelectronics has received approval for an initial public offering that will give chipmaker Intel and electronics producers Xiaomi and Samsung the chance to exit, DealStreetAsia reported on Monday.
The company is looking to issue approximately 48.3 million shares on the Shanghai Star Market to raise up to RMB790m ($111m), and its valuation stands at a minimum of $421m, according to DealStreetAsia. China Merchants Securities has been appointed lead underwriter for the offering.
VeriSilicon provides silicon…
