Chinese Memory-Chip Maker CXMT Sets Subscription Date for Shanghai IPO

China’s leading memory-chip maker CXMT Corp. has formally launched its initial public offering process, aiming to raise 29.5 billion yuan ($4.3 billion) in what would be the largest-ever listing on Shanghai’s tech-focused STAR Market.

The blockbuster offering marks a milestone for China’s semiconductor sector, though market observers warn the multi-billion-yuan listing could drain liquidity from other tech stocks and potentially signals a peak in the current bull market.