SIGAM-invested Cambricon’s IPO in STAR Market IPO Approved
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On June 2, the IPO of Cambricon Technologies Corporation Limited (Cambricon) was approved by the Science and Technology Innovation Board Listing Committee of the Shanghai Stock Exchange upon deliberation. SIG Asset Management Co., Ltd. (SIGAM) was involved in Series B funding for Cambricon in 2018.
Cambricon is China's first AI chip enterprise that has developed complete intelligent chip lines covering terminal, edge and cloud products, and created a cloud-edge-terminal ecology. The amount of 2.801 billion yuan to be raised for the IPO will help to further deepen the cloud and edge AI chip development of Cambricon.
SIGAM has conducted deployment in strategic emerging industries in recent years. Since shifting its focus to the chip industry that plays a strategic, fundamental and leading role in the country in 2017, SIGAM's investment team has analyzed leading chip enterprises, sought to invest in AI chip enterprises that can overtake in the chip industry, and finally targeted Cambricon. It took Cambricon only two months to gain access to the Science and Technology Innovation Board, showing its right investment strategy and accurate judgment of the industry. As a state-owned assets management company, SIGAM will combine maintaining and increasing the value of state-owned assets with supporting strategic emerging industries, and boost the development of high-tech enterprises through state-owned capital.
