The blockbuster IPO has made CXMT mainland China’s most valuable listed company
China’s largest memory-chip maker, ChangXin Memory Technologies (CXMT), has become the mainland’s most valuable listed company after its shares jumped more than five fold on their market debut.
The company raised 57.9 billion yuan ($8.6 billion) in Asia’s biggest IPO of the year on Monday. Its shares surged 466% in Shanghai trading, leaving it with a market capitalization of around 3.3 trillion yuan.
Founded in 2016, CXMT has emerged as China’s leading producer of dynamic random-access memory (DRAM) chips, used in smartphones, personal computers, servers, AI systems, and military equipment. The company now accounts for roughly 8% of...
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