China’s top DRAM maker sets date for US$4.3b Shanghai IPO amid memory boom

ChangXin Memory Technologies (CXMT), China's top DRAM maker, set a subscription date for its Shanghai IPO expected to raise at least 29.5 billion yuan (US$4.3 billion), making it the second-largest on the Star Market. The listing comes amid a global memory boom driven by AI and data-center demand, positioning CXMT to challenge market leaders Samsung, SK Hynix, and Micron.

China’s top DRAM maker sets date for US$4.3b Shanghai IPO amid memory boom Listing would rank behind only SMIC’s on Shanghai’s Star Market, as AI demand boosts memory-chip market Howard Liu /author/howard-liu in Beijing 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. initial public offering IPO https://www.scmp.com/topics/ipo?module=inline&pgtype=article 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 https://www.scmp.com/topics/artificial-intelligence?module=inline&pgtype=article and data-centre demand. semiconductor https://www.scmp.com/topics/semiconductors?module=inline&pgtype=article 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.