MarketPR
Shares of CXMT, the Hefei-based memory chipmaker, jumped 500% in their Shanghai stock market debut after the company priced its initial public offering at 8.66 yuan per share and raised 57.92 billion yuan, equivalent to $8.6 billion.
The first-session print landed far above the IPO anchor, compressing months of typical price discovery into a single trading day.
Where shares settle once opening-day demand clears is the first confirmable milestone ahead.
The capital raise behind the listing The Hefei company set its offering price at 8.66 yuan and drew enough investor demand to total 57.92 billion yuan before a single share changed hands in the secondary market.
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