Helmsman advises Shanghai Xizhi Technology on landmark Hong Kong IPO
Helmsman LLC (“Helmsman”) advised Shanghai Xizhi Technology Co., Ltd., also known as Lightelligence (“Xizhi Technology”), on its landmark IPO and listing on the Main Board of the Hong Kong Stock Exchange, through which Xizhi Technology became the world’s first listed AI silicon photonics (optical-electronic hybrid computing) chip company.
Headquartered in Shanghai and founded in 2017, Xizhi Technology develops AI silicon photonics chips that use light to accelerate matrix operations via optical transmission and interference, offering a cutting-edge solution to computing power bottlenecks. The IPO attracted 20 cornerstone investors, including Alibaba, GIC, BlackRock, Fidelity International and Temasek, underscoring strong institutional confidence in the company’s technology, growth prospects and business model. The IPO successfully raised HKD 2.53 billion (USD 323 million), and such proceeds will primarily be used to fund R&D, including in optical interconnect hardware and optical computing products, as well as to expand product and sales teams for commercialisation.
Acting as Singapore counsel, Helmsman advised on the Singapore law aspects of this milestone listing. The matter was led by our Director, Lynette Koh, who was supported by Senior Associate, Jessica Cheung and Associate, Beatrice Low.
For further enquiries, please contact:
Lynette Koh at lynette.koh@helmsmanlaw.com
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