business
Chinese Chipmaker Shares Surge 470% in Blockbuster Stock Market Debut
Archived — last updated
ChangXin Memory Technologies' shares surged 470% in its Shanghai Star Market debut, valuing the company at ~3.3 trillion yuan—the most valuable listed firm in mainland China—amid a tech sector sell-off.
Latest updates
Chinese Chipmaker Shares Surge 470% in Blockbuster Stock Market Debut
ChangXin Memory Technologies' shares soared 470% in its market debut on the Shanghai Stock Exchange's tech-heavy Star Market. The company's valuation has increased to around 3.3 trillion yuan, making it the most valuable listed company in mainland China. The spectacular debut comes despite a sharp sell-off in the tech sector. The company's strong performance has attracted significant investor attention, leading to a surge in its share price.
CXMT shares surge 500% on Shanghai debut after Asia’s largest IPO
CXMT, a Hefei-based chipmaker, priced its IPO at 8.66 yuan per share and raised 57.92 billion yuan ($8.6 billion) on July 26. The stock’s debut saw a 500% surge, valuing the company at 3.65 trillion yuan and making it China’s most valuable listed firm. The IPO underscores China’s push to bolster its semiconductor industry amid US restrictions. Analysts noted the strong investor demand despite global chip market volatility.
Sources
AI-assisted summary of the reporting above. Quotes are kept to one sentence. Copyright concern? See our DMCA takedown page.
Topics
Related stories
Latin American banana producers seek higher pay amid climate crisis
Banana producers in Latin America are calling for better pay to help cope with the impact of the climate crisis, as they face big drops in
Democratic midterm sweep threatens Trump tariffs and AI expansion
Democrats won U.S. House and Senate, threatening Trump's tariffs and AI plans
EU considers acting on Russia shadow fleet sanctions without US support
Since Russia's full-scale invasion of Ukraine , Moscow has increasingly relied on a so-called shadow fleet to bypass Western sanctions and