$8.5 Billion Says This Micron Threat Is About to Get a Whole Lot Bigger

Chinese memory maker ChangXin Memory Technologies (CXMT) is set to raise $8.5B in its Shanghai STAR Market listing, nearly doubling its initial target, implying a market cap around $85.5B. The upsizing of the fundraising suggests strong demand/valuation support for the IPO.

Analysis

Chinese memory maker ChangXin Memory Technologies (CXMT) is set to raise $8.5B in its Shanghai STAR Market listing, nearly doubling its initial target, implying a market cap around $85.5B. The upsizing of the fundraising suggests strong demand/valuation support for the IPO.