CXMT sets July 16 subscription date for STAR Market IPO

CXMT has launched its STAR Market IPO process and set July 16 as the subscription date.

The DRAM maker aims to raise RMB29.5 billion by issuing 6.69 billion shares.

The offering represents about 10% of post-listing share capital before any over-allotment option.

The listing would give China’s largest DRAM producer major funding and support the domestic memory chip push.