CXMT IPO clearance could fund China's DRAM supply expansion

Digitimes reports that the Shanghai Stock Exchange cleared CXMT's STAR Board listing review on May 27. The article says the IPO could raise roughly CNY29.5 billion, or about US$4.4 billion, for China's leading DRAM producer. If completed, the fundraising would strengthen CXMT's ability to invest in production and its domestic supply chain, adding a medium-term competitive variable to global DRAM supply.