Gasgoo Munich- July 27 marked a historic moment for IPOs on China’s A-share market. China memory chip leader ChangXin Memory Technology (CXMT) officially listed on the STAR Market, becoming the largest IPO in the board’s history. The company raised approximately 57.9 billion yuan at an issue price of 8.66 yuan per share. This figure reached 66.6 billion yuan when the over-allotment option was fully exercised. It set a new fundraising record for the STAR Market.
Image source: Baidu Stock Market
On its debut, CXMT delivered a performance that was nothing short of explosive. The stock opened at 49.5 yuan per share. It eventually closed with a 465.8% surge, pushing its total market value near 3.3 trillion yuan. This directly surpassed…
