CXMT, China's leading DRAM manufacturer, plans to go public on the Shanghai Stock Exchange on July 27, according to Reuters sources. The company will begin bookbuilding on July 15 and aims to raise 29.5 billion yuan (about $4.1 billion).
If successful, it would be the largest IPO in Asia this year and the biggest semiconductor listing on China's A-share market since SMIC's IPO in 2020.
CXMT is the world's fourth-largest DRAM maker, with a market share of roughly 7.7% in 2025. The proceeds will be used to upgrade production lines and technology.