Where CXMT’s IPO money is going: The DRAM gap Korea left

ChangXin Memory Technologies surged 472 percent at the opening of its Shanghai debut on Monday, briefly becoming China’s most valuable domestically listed company with a market capitalization of about 3.3 trillion yuan ($487 billion). But the line that matters most to Korea’s memory industry has been hiding in plain sight for months. In its listing prospectus, CXMT said it would deploy 29.5 billion yuan. Nearly 70 percent, or 20.5 billion yuan, goes to wafer lines and upgrading DRAM processes it