CXMT plans $4.35B Shanghai STAR Market IPO on July 27
Business
ChangXin Memory Technologies (CXMT), one of China's leading makers of memory chips, is gearing up for a major IPO on Shanghai's STAR Market this July 27.
It is aiming to raise $4.35 billion, making it Asia's biggest IPO this year and the largest semiconductor listing in China since 2020.
CXMT to boost production and tech
CXMT plans to use the funds to upgrade its tech and boost production, which could push it further into the global spotlight.
With a 7.7% share of the world's DRAM market, its chips help power everything from AI workloads to cloud servers, even if it is not quite at Samsung or SK Hynix's level yet.
Industry leaders and government officials are expected at the launch, showing just how big a deal this is for China's tech scene.