The Chinese memory chipmaker’s planned listing is set to rank among the largest share sales in Shanghai in recent years.
CXMT Corp. has disclosed terms for a $9.8 billion initial public offering in Shanghai, a deal described as likely to be among the city’s biggest listings in recent years. The planned share sale points to a major capital-raising effort by the Chinese memory chipmaker as large domestic IPOs remain closely watched for signals on funding access and investor appetite in China’s equity market.