In response to the turbulence of the market environment, China Storage Chip Makers Changxin Storage Technology Co., Ltd. chose to postpone the first public offering (IPO) plan, and in the endBooking funds.
Bloomberg News quoted people familiar with the matter on Tuesday (December 12) that Changxin Storage has completed the adjustment of the shareholder structure in mid -2023 to prepare for the potential listing.
People familiar with the matter said that after communicating with regulatory agencies and potential investors, the company decided to wait for the more favorable market conditions to appear before listing.
This round of financing will enable this chip manufacturer to continue to expand production capacity to cope with the situation where global technology demand is expected to rebound in 2024.
People familiar with the matter said that once the market situation improves, Changxin Storage may quickly take action to restart the IPO plan.
Bloomberg quoted sources in April this year that the valuation of the Changxin Storage plan and even about 100 billion yuan was listed on the Shanghai Science and Technology Board.As the underwriter is still selected, the size of the IPO stored by Changxin has not been finalized.
