On the evening of December 30, Chinese DRAM leader ChangXin Memory Technologies Group Co., Ltd. (CXMT) formally submitted its prospectus to the Shanghai Stock Exchange, applying for a listing on the STAR Market. The offering is being sponsored by state-backed investment bank CICC and Chinese securities firm CSC Financial.
CXMT plans to raise up to CNY 29.5 billion, equivalent to approximately USD 4.22 billion, with proceeds earmarked for three core projects: upgrading mass-production DRAM wafer manufacturing lines, advancing DRAM process technologies, and funding forward-looking research and development for next-generation dynamic random-access memory.