According to the China Securities Regulatory Commission, ChangXin Memory Technologies (CXMT), a leading domestic DRAM manufacturer, has entered the listing counseling process, which is a key step in the pre-IPO regulatory procedure in China’s capital markets. The counseling document discloses that CXMT has a registered capital of RMB 60.19 billion ($8.4 billion) and no controlling shareholder. Its largest shareholder is Hefei Qinghui Integrated Circuit Enterprise Management Partnership, which directly holds a 21.67% stake in the company. Last March, CXMT announced a new round of financing totaling RMB 10.8 billion ($1.5 billion), with a pre-money valuation of around RMB 140 billion ($19.5 billion). [IThome, in Chinese]
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