Enflame, Chinese Rival of Nvidia, Reports an Allocation Rate of 0.025% for Its IPO

The final allocation rate for retail investors during Enflame's IPO reached 0.025%, translating to a one in 4,000 chance of obtaining a share. This figure is one of the lowest of the year in mainland China, just behind Unitree's IPO with an allocation rate of 0.018%. Over 7 million investors placed orders for approximately 42.1 billion shares, representing nearly 5.98 trillion yuan. Demand thus exceeded 6,109 times the number of shares available. Enflame set the price of its IPO at 142.18 yuan per share, aiming to raise about 6.12 billion yuan, or nearly 908 million dollars, by offering around 43 million shares, which represents about 10% of its capital. This enthusiasm reflects Chinese investors' interest in local alternatives to Nvidia, due to new U.S. restrictions on the export of advanced chips. Enflame is the last of the four major Chinese GPU manufacturers to go public. In contrast, French investors cannot purchase Enflame shares as they are listed on the STAR Market in Shanghai, which is reserved for local investors. To gain exposure to Chinese AI chips, it is advisable to turn to the Hong Kong Stock Exchange.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.