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Chinese storage giant ChangXin Memory begins IPO counseling, previously valuedat $19.5 billion
ChangXin Memory Technologies (CXMT), a major DRAM manufacturer, has started the IPO counseling process according to the China Securities Regulatory Commission, with a valuation of $19.5 billion and no controlling shareholder. The company has a registered capital of $8.4 billion and recently raised $1.5 billion in financing.
Key points
- CXMT is a leading DRAM manufacturer in China.
- The company has begun the IPO counseling process as per the China Securities Regulatory Commission.
- CXMT has a registered capital of RMB 60.19 billion ($8.4 billion).
- The largest shareholder is Hefei Qinghui Integrated Circuit Enterprise Management Partnership, with a 21.67% stake.
- In March, CXMT raised RMB 10.8 billion ($1.5 billion) in financing, prior to the IPO counseling.
Why it matters
- This aligns with recent trends in China’s technology sector aiming for self-sufficiency in semiconductors.
- Reflects the increasing importance of domestic semiconductor manufacturing amidst U.S.-China tech tensions.
- The DRAM market is critical to the global electronics supply chain, making such IPOs significant for future investments.
CXMT's IPO counseling marks a crucial step in bolstering China's semiconductor industry, reflecting broader trends toward self-reliance and investment in technology amid global competition.