Chip design software provider Empyrean has raised RMB3.55 billion (US$522.95 million) through a listing on SZSE’s ChiNext.
Empyrean’s legal counsel, King & Wood Mallesons, was led by Beijing office managing partner Gong Mulong, partners Wang Hui, Wan Minxiu and associate Tang Lizi.
DeHeng Law Offices advised insurer CITIC Securities and its lead partner was Yang Xinwei.
Empyrean develops Electronic Design Automation (EDA), a cornerstone of integrated circuit design and known as the “mother of chips”.
According to CCID Consulting, a think tank under the Ministry of Industry and Information Technology, China has boosted its chip manufacturing.
Despite Empyrean’s rank as China’s largest EDA company, it only has a 6% share of the Chinese market pie relative to its peers in 2020, with US counterparts Cadence and Synopsys and German company Siemens EDA dominating the rest of the sector .
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