CXMT, a Chinese DRAM chipmaker, has set the price of its Shanghai STAR Market IPO at RMB8.66 per share. The company will offer 6.69 billion shares, with online and offline subscriptions scheduled for July 16.
The offering is expected to raise about RMB57.9 billion ($8.55 billion) before any over-allotment option, giving CXMT an implied post-IPO market capitalization of roughly RMB579.2 billion. The offer price implies a 2025 diluted price-to-earnings ratio of 308.92 times, according to the company’s filing.
Founded in 2016, CXMT designs, develops and manufactures DRAM chips for mobile phones, PCs, tablets, servers and other devices. Its product portfolio includes DDR4, DDR5, LPDDR4X and LPDDR5X memory products. [Reuters]
