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

CXMT, China's only domestic DRAM maker, closed at 49 yuan — up 466% from its IPO price after Asia's largest 2026 offering raised $8.6 billion. Retail demand was over 200 times oversubscribed. The stock hit 55.03 yuan intraday before settling about 11% below that peak.