China chipmaker Hua Hong opens sharply up in Shanghai debut after $3 bln offering

Hua Hong Grace Semiconductor

07/08/2023 02:40

SHANGHAI, Aug 7 (Reuters) - Shares in Hua Hong
Semiconductor, China's second largest chip foundry, opened up
13% in its Shanghai debut on Monday, after the company raised $3
billion in China's biggest public offering so far this year.
    Hua Hong shares  688347.SS  opened at 58.88 yuan on
Shanghai's Nasdaq-style STAR Market, 13% higher than its offer
price of 52 yuan ($7.25).


    
($1 = 7.1706 Chinese yuan renminbi)

 (Reporting by Shanghai Newsroom; Editing by Muralikumar
Anantharaman)
 ((Li.Gu@thomsonreuters.com;))