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China approves IPO for CXMT
The Chinese Securities Regulatory Commission has approved the listing of CXMT, China's largest manufacturer of dynamic random-access memory (DRAM), on the Shanghai Stock Exchange through an initial public offering of approximately $4.33 billion. The company was founded in 2016 and is considered one of the largest technology activities in the memory sector in China. It plans to raise this amount to become the second-largest IPO in the STAR Market and the biggest IPO in China's "A-share" stock market this year.
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