China memory giant CXMT valued at US$85 billion in record Shanghai IPO

# China Memory Chipmaker CXMT Completes Record Shanghai IPO

ChangXin Memory Technologies (CXMT), China's leading memory chipmaker, has completed a Shanghai initial public offering priced at 8.66 yuan (US$1.28) per share, valuing the company at US$85 billion. The Hefei, Anhui-based firm's listing represents the largest IPO by a Chinese semiconductor company on a mainland Chinese exchange.

The offering positions CXMT as a major player in China's efforts to develop its domestic semiconductor industry. The company's valuation and scale of listing underscore the strategic importance of memory chip manufacturing to China's technology ambitions and broader push for semiconductor self-sufficiency.