China's CXMT eyes memory's 'Big 3' with $8.5b IPO

China’s ChangXin Memory Technologies is throwing its hat into the ring with a roughly $8.5 billion initial public offering as it seeks to challenge the dominance of Samsung Electronics, SK hynix and Micron Technology.

Set to list on Shanghai’s STAR Market on July 27 in the largest flotation by a Chinese chipmaker, CXMT is using the offering as a global debut, billing itself as China’s largest and the world’s fourth-largest DRAM maker by capacity despite a far smaller market share than the indust ...