One of the biggest champions of China’s drive for technological self-sufficiency is about to hit the market. ChangXin Memory Technologies (CXMT), a semiconductor maker founded a decade ago, will debut on July 27 on Shanghai’s tech-focused STAR Market having raised $8.5 billion in its initial public offering.
Though the company did not turn a profit until last year, it is benefitting from a global chip shortage: CXMT’s operating revenue grew by over 700 percent in the first quarter
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