Moore Threads Files Confidential Hong Kong Listing Application, IFR Says

Moore Threads, the mainland artificial intelligence chip designer often dubbed the "China version of Nvidia," has filed a confidential application for a Hong Kong listing, according to IFR, which cited people familiar with the matter. The company is seeking to raise at least $1 billion, or about HK$7.8 billion, in the share sale. The proceeds are expected to fund research and commercialization, sales network development, strategic investments and acquisitions, and working capital. CITIC Securities, which was the lead sponsor for Moore Threads' STAR Market IPO, will lead the Hong Kong share offering, ETNet reported. Moore Threads said in August that it was planning an H-share issuance and a main board listing in Hong Kong. The stock debuted on Shanghai's STAR Market on December 5 last year.