China's CXMT Soars 466% in Shanghai Debut After $8.6 Billion IPO

CXMT, China's sole domestic DRAM maker, closed at 49 yuan on its first Shanghai trading day — up 466% from its IPO price after Asia's largest offering of 2026 raised $8.6 billion. The retail tranche was over 200 times oversubscribed. The stock peaked intraday at 55.03 yuan before settling roughly 11% below that level.