CXMT prices $85bn Shanghai IPO at 8.66 yuan per share

The Chinese DRAM maker's valuation marks a major escalation in Beijing's push for semiconductor self-sufficiency, challenging global memory incumbents.

By Handelsavisen Newsroom · Automated 2026-07-16 16:04 UTC · 1 min read Last updated: 2026-07-16 20:52 UTC

ChangXin Memory Technologies (CXMT) has priced its initial public offering on the Shanghai Star Market at 8.66 yuan per share, valuing the Chinese DRAM manufacturer at approximately $85 billion.

The pricing represents a significant step up from earlier estimates that placed the deal closer to $4.3 billion, signaling strong institutional appetite for the listing despite ongoing geopolitical headwinds in the tech sector.

By securing a valuation near $85 billion, the company underscores the scale of domestic capital support for its expansion plans.

The move positions CXMT as one of the largest semiconductor IPOs in China's history.

By securing a valuation near $85 billion, the company underscores the scale of domestic capital support for its expansion plans.

The offering aims to raise substantial funds for capacity expansion and R&D, critical components in Beijing's broader strategy to reduce reliance on foreign memory chips.

This development intensifies competition in the global memory market, where CXMT is rapidly closing the technology gap with established players like Samsung, SK Hynix, and Micron.