CXMT's US$8.6 billion IPO sets off new spending cycle across China's DRAM supply chain

China's leading DRAM producer CXMT listed on Shanghai's STAR Market on July 27 after raising about CNY57.9 billion (approx. US$8.6 billion), the board's largest initial public offering to date. The deal gives the memory chipmaker fresh capital to expand capacity, develop advanced processes and accelerate new products, while creating a substantial demand pipeline for China's semiconductor equipment, materials, packaging and memory-module suppliers.