Seoul, July 20 -- Chinese DRAM maker ChangXin Memory Technologies is throwing its hat into the ring with a roughly $8.5 billion initial public offering as it seeks to challenge the dominance of Samsung Electronics, SK hynix and Micron Technology, The Korea Herald reported.

Set to list on Shanghai's STAR Market on July 27 in the largest flotation by a Chinese chipmaker, CXMT is using the offering as a global debut, billing itself as China's largest and the world's fourth-largest DRAM maker by capacity despite a far smaller market share than the industry's top three.

Priced at 8.66 yuan (USD 1.28) a share, the IPO is expected to raise 57.9 billion yuan (USD 8.55 billion), or up to 66.6 billion yuan (USD 9.83 billion) with a 15 percent ove...