Chinese CPU designer Loongson seeks to raise $500m in STAR Market IPO

Chinese CPU designer Loongson seeks to raise $500m in STAR Market IPO

Home-made chip Godson 3 on display at the second Fuzhou Digital China Construction Achievement Exhibition on May 7, 2019. Photo: VCG

Loongson Technology Corp. Ltd. filed Monday for an IPO on Shanghai’s Nasdaq-style STAR Market, as the central processing unit (CPU) designer looks to raise 3.5 billion yuan ($544 million) amid a government drive to cut reliance on overseas technology suppliers.