Chinese memory chipmaker CXMT File Photo: VCG

CXMT Co Ltd, a leading storage chipmaker in China, made public its IPO prospectus on Thursday as its plans to be listed on the STAR Market of Shanghai Stock Exchange (SSE), adding to the recent price surge in major technology companies.

According to the prospectus, the chipmaker plans to sell 6.688 billion shares in its IPO, which accounts for about 10 percent of the total stock value of the company. The offline and online subscription dates for the new issuance are set on July 16. 

The company said that the IPO will help drive coordinated development of key players across the industry chain, including storage chip designers, EDA vendors, semiconductor material suppliers, semiconductor equipment and component manufacturers, as well as downstream terminal application companies. 

The IPO will enhance the overall strength of China’s integrated circuit industrial chain and promote the development of China’s semiconductor sector to a higher level, the company said. 

On May 27, CXMT’s IPO passed the regulator’s reviewing. The company plans to raise 29.5 billion yuan via the offering, which would make it the second largest IPO in the history of the STAR Market, and the largest IPO on the A-share market this year, Xinhua News Agency reported.

On Tuesday, the STAR Market IPO filing by XPHOR Co Ltd, a Shanghai-based silicon photonics maker, entered the inquiry phase. Focused on high-performance silicon photonic integrated chips, the firm plans to raise 2.43 billion yuan through IPO. Moreover, Shanghai Enflame Technology Co, one of the country's "four GPU unicorns," also had its STAR Market IPO application approved by the regulator in June.

In addition to the semiconductor-related companies, Chinese robot maker Unitree Robotics in July received regulatory approval for listing on the SSE’s sci-tech innovation board. The company's prospectus noted that it plans to raise 4.2 billion yuan through IPO. The proceeds will be used for projects involving research and development of intelligent robot models and robotic bodies, development of new intelligent robot products, and construction of an intelligent robot manufacturing base.

To consolidate China's technological self-reliance bid, the China Securities Regulatory Commission (CSRC), the regulator, rolled out upgraded institutional support for tech company listings during the Lujiazui Forum in Shanghai on June 17.

The scope of the fifth set of STAR Market listing standards will be extended to the AI sector, offering robust backing for high-quality enterprises developing large AI models to pursue IPOs, said Wu Qing, chairman of CSRC.

Also, the STAR Market will open doors for more hard-tech companies engaged in quantum technology, bio-manufacturing, embodied intelligence and other emerging frontier tech companies, Wu noted.


Global Times