Chipmaker CXMT eyes $9.8 bn in blockbuster China IPO

Chinese memory chipmaker ChangXin Memory Technologies (CXMT) plans to raise at least 57.9 billion yuan (8.6 billion dollars) in a Shanghai Stock Exchange IPO, potentially rising to 66.6 billion yuan (9.8 billion dollars) with overallotment. This would be China's largest mainland IPO since 2010 and its biggest tech share sale ever. CXMT, the world's fourth-largest DRAM chipmaker with about eight percent market share, aims to rival Micron, Samsung and SK Hynix amid surging AI-driven demand for memory chips.