BEIJING/HONG KONG (Aug 13): Chinese chip designer Kiwimoore has confidentially filed ​for a Hong Kong initial public offering, ‌targeting a valuation of about US$2 billion (RM8.2 billion), said two people with knowledge of the matter.

Kiwimoore did not respond ​to a Reuters request for comment.

The sources ​declined to be named because the information ⁠was confidential.

Kiwimoore plans to ​list in Hong Kong in the first half ​of 2027, the sources said.

The company raised about 700 million yuan in a July funding round with a ​valuation of 8 billion yuan, said one ​of the people.

Kiwimoore has tapped Citic Securities and ABC ‌International ⁠to lead its Hong Kong IPO, said the sources. The two banks did not respond to Reuters requests for comment.

Founded in early 2021, Shanghai-based ​Kiwimoore makes ​networking technology ⁠used to link artificial-intelligence accelerators inside computing clusters, the company's website said.

The ​company has positioned itself to capitalise on ​Beijing's ⁠push to build a self-sufficient AI chip supply chain after the US restricted exports of advanced ⁠technologies, ​including chips, to China.

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