ChangXin Memory Technologies, China’s leading homegrown DRAM manufacturer, has priced its initial public offering at 8.66 RMB ($1.34) per share on the Shanghai STAR Market. The company is targeting a raise of approximately 57.9 billion yuan ($8.55 billion), with the potential to hit 66.6 billion yuan ($9.8 billion) if the over-allotment option gets exercised.
That would make it Asia’s largest IPO of the year and surpass SMIC’s 2020 offering as the biggest A-share semiconductor listing in Chinese market history.
Why a chip IPO matters for crypto and tech markets
CXMT passed its IPO review in late May 2026, and book-building commenced on July 15. The pricing at 8.66 RMB per share reflects significant investor appetite for domestic semiconductor exposure, particularly as global demand for memory chips continues to surge. The listing is scheduled for July 27, 2026.
The company plans to funnel the proceeds into next-generation DRAM technology development and manufacturing capacity expansion.
