Chinese metaverse tech company Semidux (Cayman) Holding files for a $17 million US IPO

Semidux (Cayman) Holding, a Chinese provider of products and services for metaverse computing infrastructure, filed on Friday with the SEC to raise up to $17 million in an initial public offering.

Through its operating entity in China, the company provides products and services related to the metaverse computing infrastructure. Its offerings encompass chips, customized servers, and cloud gaming terminals, as well as computing resource optimization software, technical and maintenance services, and server rentals, which cater to the evolving needs of the metaverse industry.

The Shenzhen, China-based company was founded in 2019 and booked $22 million in revenue for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol JIE. Semidux (Cayman) Holding filed confidentially on June 6, 2023. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.