Categories: Social Media News

Alibaba-backed AI Speech moves forward with Star Market listing plan, aiming to raise US$1.5 billion in Shanghai IPO

AI Speech, an Alibaba-backed company involved in speech recognition and AI chip design, has moved a step forward in its quest for a public listing on Shanghai’s Star Market . The Jiangsu province-based company began completing a Q&A from the Shanghai Stock Exchange on Wednesday, representing the second step in a vetting process that normally takes well over a year. The company aims to raise 10.3 billion yuan (US$1.5 billion) from an eventual initial public offering (IPO), it said in a filing submitted in July. Its target is not far from the biggest IPO on the Star board this year;…

Social Media Asia Editor

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