CXMT sets July 16 subscription date for STAR Market IPO

ChangXin Memory Technologies, or CXMT, has started the issuance process for its STAR Market IPO, with subscriptions scheduled for July 16. The Chinese DRAM maker plans to raise RMB29.5 billion. CXMT is China’s largest DRAM producer and one of the country’s most important memory chip companies, in a market still dominated globally by Samsung, SK Hynix and Micron. The company will issue 6.69 billion shares before any over-allotment option, equal to about 10% of its post-issuance share capital. [TechWeb, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

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