Chinese Chip Rival to Samsung Seeks IPO at $14.5 Billion Value
- State-backed DRAM Maker Changxin Memory plans Shanghai listing
- The debut could mark a milestone in China’s tech ambitions
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Changxin Memory Technologies Inc. plans to file for a domestic initial public offering this year that could value the Chinese chipmaker north of $14.5 billion, a milestone debut that could help galvanize the country’s technology aspirations.
The memory chip maker known as CXMT aims to list on Shanghai’s Nasdaq-style STAR board at a valuation of no less than 100 billion yuan ($14.5 billion), according to people familiar with the matter. It’s in the process of picking underwriters and the size of the IPO hasn’t been finalized, said the people, asking not to be named discussing private matters.