China chipmaker CXMT jumps 466% after record-breaking Shanghai IPO

The DRAM manufacturer raised Rmb57.9bn ($8.6bn) in Asia’s largest IPO of 2026 so far and has become China’s largest onshore-listed company by market value, raising questions over the chip maker's valuation and growth prospects.
July 27, 2026

Chinese memory chip maker CXMT surged 466% on its July 27 Shanghai debut after raising Rmb57.9 billion ($8.6 billion) through Asia’s largest initial public offering (IPO) so far this year.

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