On Monday, Chinese memory manufacturer CXMT made its initial public offering on Shanghai's STAR stock market. This debut was the biggest in Asia this year, raising $8.6 billion and seeing shares in the company surge by 466%. In terms of valuation, that places CXMT right at the top of China's stock market.
CXMT's market capitalisation is now about $487.73 billion. Major player Tencent still outpaces it at a little over $500 billion, but that makes CXMT's stock market debut no less show-stealing. In fact, according to Reuters, the memory manufacturer is now a more valuable listed company than even the Industrial and Commercial Bank of China.
Even before this news, CXMT was already one to watch; the company's plans to massively ramp up DRAM manufacturing capacity in the midst of the RAMpocalypse has made its products Read Entire Article
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