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China DRAM Maker CXMT Targets $4.2B IPO as It Takes on Samsung, SK Hynix, Micron

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Chinese memory chipmaker ChangXin Memory Technologies (CXMT) has filed for an IPO on Shanghai's STAR Market, seeking to raise up to CNY 295 billion (about USD 42.2 billion) to upgrade DRAM manufacturing, advance next-generation memory technologies, and strengthen China’s position in the global memory supply chain.