Chinese memory giant ChangXin Memory Technologies (CXMT) kicked off the final stage of its Shanghai listing, setting a subscription date for a share offering that is expected to raise at least 29.5 billion yuan (US$4.3 billion) and would rank as the second-largest on the tech-focused Star Market.China’s leading DRAM maker, based in Hefei in the central province of Anhui, will hold its initial price consultation on Monday and open subscriptions on July 16.The initial public offering (IPO) will be one of China’s most closely watched this year, as Beijing seeks to channel more capital into strategically important chip companies amid a global memory upcycle driven by artificial intelligence and data-centre demand.China’s semiconductor market, as measured by regional application demand, was set to grow 93 per cent in 2026 to US$812.1 billion, with computing and data-storage applications accounting for more than 60 per cent of the total, market researcher Omdia said on Tuesday.The country’s memory-chip market would grow 263 per cent in 2026 to US$449.6 billion, as AI infrastructure demand lifted storage requirements, it added.That backdrop has strengthened the investment case for CXMT, the only home-grown DRAM producer with the scale to challenge the global market leaders, Samsung Electronics and SK Hynix of Korea and US firm Micron Technology.