China’s CXMT Corp starts IPO preparation process, document shows

BEIJING: CXMT Corporation, parent of Chinese dynamic random-access memory chipmaker ChangXin Memory Technologies, has kicked off preparations known as “the counselling process” for an initial public offering, a document released by China’s securities regulator showed on Monday.

CXMT Corp has hired China state-owned investment banks China International Capital Corporation and CSC Financial for the process, the document showed, which stopped short of details about where and when it will go public.