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]
