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CXMT’s $8.6B IPO Set to Be Asia’s Largest This Year as China’s Chip Ambitions Hit the Market
China’s top DRAM maker CXMT debuts on the Shanghai Stock Exchange on July 27, raising $8.6 billion in Asia’s biggest IPO of the year. The listing comes amid a global semiconductor slump, raising fears of a liquidity drain and adding to the selloff in Chinese tech stocks.