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BABA-W Once Rises 4% as Chip Subsidiary Rumored to Go Public Independently
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BABA-W (09988.HK) opened 3.88% higher today (23rd) at HKD171.2 and once surged by 4.4% in early trading to a peak of HKD172. It last traded at HKD169.7, up 2.97%, with a volume of 18.4632 million shares, involving HKD3.153 billion. According to Chinese media reports, BABA-W has decided to support its chip subsidiary T-Head in going public independently, though the specific time is not yet clear. Founded in 2018 and wholly owned by BABA-W, T-Head is a company focusing on the semiconductor chip business. It offers a full range of integrated end-to-cloud products that cover data center chips and IoT chips. AAStocks Financial News |
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