China Memory Giant CXMT Prices IPO To Raise Up To $10 Billion: A Deep Dive Of This "Formidable DRAM Competitor"

Chinese memory giant CXMT, which we have discussed extensively in recent weeks due to its critical role in the Chinese memory supply chain (here, here and here), and which Apple is hoping to use as an alternative DRAM supplier to the Big 3 cartel (Samsung, SK Hynix and Micron), unveiled the terms of its highly anticipated IPO. 

The company formally known as ChangXin Memory Technologies, but much better known as CXMT or even better as "China's DRAM giant", priced the offering on Shanghai’s chip-heavy STAR Board at 8.66 yuan apiece, according to a filing Tuesday. The offering consists of 6.69 billion shares, or 7.69 billion shares including an overallotment option.