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Chinese fabless chip designer Nano Labs files for a $50 million US IPO

June 10, 2022

Nano Labs, a fabless chip designer in China, filed on Friday with the SEC to raise up to $50 million in an initial public offering.

The company states that it is a leading fabless integrated circuit design company and product solution provider in China. Nano Labs develops high throughput computing (HTC) chips, high performance computing (HPC) chips, as well as distributed computing and storage solutions, smart network interface cards (NIC) vision computing chips and distributed rendering. In June 2021, the company established a Singapore-based subsidiary to facilitate business expansion in the overseas markets.

The Hangzhou, China-based company was founded in 2019 and plans to list on the Nasdaq under the symbol NA. Nano Labs filed confidentially on September 9, 2021. AMTD Global Markets, Maxim Group LLC, and Tiger Brokers are the joint bookrunners on the deal. No pricing terms were disclosed.