CXMT becomes China’s most valuable A-share company after $8.6 billion IPO

ChangXin Memory Technologies (CXMT), China’s largest DRAM maker, raised RMB57.92 billion ($8.6 billion) in its Shanghai STAR Market IPO on July 27, in what became the largest mainland semiconductor offering on record. By the midday break, its shares had risen 531% from the IPO price, pushing its market value to RMB3.66 trillion and making it the most valuable company listed on China’s mainland exchanges, according to report . Why it matters: CXMT’s debut is significant first because of its scale