Tencent-Backed Enflame Prices 6.12 Billion Yuan STAR Market IPO

Tencent-backed Enflame Technology has priced its Shanghai STAR Market initial public offering at 142.18 yuan per share, targeting 6.12 billion yuan (about $911 million) and a valuation of roughly 61.2 billion yuan. The offering makes Enflame the last of five closely watched Chinese AI-chip startups to pursue a public listing, according to Caixin.