China’s CXMT Launches $8.5 Billion IPO to Challenge DRAM Giants

Chinese DRAM maker ChangXin Memory Technologies (CXMT) is set to make a significant mark in the industry with its record $8.5 billion initial public offering. The IPO, scheduled for July 27 on Shanghai’s STAR Market, positions CXMT as a formidable contender against established players like Samsung Electronics, SK hynix, and Micron Technology, reports The Korea Herald. Despite holding a smaller market share than the top three global DRAM manufacturers, CXMT is China’s largest and the world’s fourth-largest DRAM maker by capacity. Priced at 8.66 yuan per share (USD 1.28), the IPO is expected to raise up to 66.6 billion yuan…