China’s CXMT Launches 29.5 Billion Yuan IPO for DRAM Maker on July 16
China’s CXMT, the country’s first domestic DRAM chipmaker, lists on the Shanghai Stock Exchange on July 16 as part of an initial public offering seeking to raise 29.5 billion yuan.
Six banks are managing the prospectus, several of which already hold equity stakes in the memory maker. Advisory fees will amount to a fraction of the value of those existing shareholdings. The listing supports the company’s plan to increase monthly wafer output by 30% to more than 300,000 wafers by year-end, positioning it to challenge Samsung, SK Hynix and Micron while reducing reliance on foreign suppliers.
From the sources (4 posts)
@sarthakgh“Success will hinge on whether CXMT, led by US-trained chip veteran Zhu Yiming, can navigate its sudden emergence on the global stage.“ Rise of the state-backed Chinese memory maker to reduce reliance on Korea and USA:
@businessChina’s CXMT is emerging as one of the world’s most important semiconductor makers, with plans to create a top-to-bottom supply chain for a memory-chip empire to challenge SK Hynix, Samsung and Micron
@caixinChina’s leading memory-chip maker #CXMT has formally launched its #IPO process, aiming to raise 29.5 billion yuan in what would be the largest-ever listing on Shanghai’s tech-focused STAR Market.
@poezhao0605Six banks. One IPO. China's first domestic DRAM chipmaker lists July 16. Several of those banks are also CXMT shareholders. They wrote the prospectus for a company they already own a piece of. The advisory fees are a fraction of what the