CXMT to Raise $4.3 Billion in China's Biggest IPO Since 2022
Updated
Updated · Bloomberg · Jul 9
CXMT to Raise $4.3 Billion in China's Biggest IPO Since 2022
1 articles · Updated · Bloomberg · Jul 9
Summary
Next week, CXMT will open investor subscriptions, moving its long-awaited listing into the final stage of what is set to be China’s biggest IPO since 2022.
6.688 billion shares are being offered, with half reserved for cornerstone investors, underscoring strong institutional backing for the memory-chip maker.
An overallotment option would lift the sale to 6.788 billion shares, equal to about 11.3% of CXMT’s total share capital.
CXMT competes with Samsung Electronics and SK Hynix, making the deal a closely watched test of investor appetite for China’s semiconductor sector.
ChangXin Memory Technologies (CXMT) is set for a major IPO after a period of explosive financial growth, driven by a global memory chip shortage. The company plans to use IPO funds to boost its technological capabilities, focusing on next-generation DRAM like DDR5 and LPDDR6, and to build mass-production lines for high-bandwidth memory (HBM). By expanding beyond general-purpose DRAM, CXMT aims to compete at the forefront of memory innovation and strengthen its position as a global leader in the memory chip market. This strategic move marks a new chapter in CXMT’s rapid ascent.