CXMT Corp, a Chinese chipmaker, is set to start trading in Shanghai on Monday after Asia’s biggest IPO this year. The company raised 57.92 billion yuan ($8.6 billion) by selling shares at 8.66 yuan each.
Market Value and Expectations
CXMT is valued at about 579 billion yuan ($85.5 billion) before the possible exercise of the over-allotment option, making it one of China’s largest listed semiconductor companies. The company expects first-half revenue to rise more than sevenfold to 110 billion yuan to 120 billion yuan.
CXMT makes DRAM chips, a type of memory chip used in phones, computers, and servers. It is the world’s fourth-largest DRAM maker after Samsung Electronics, SK Hynix, and Micron Technology.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.