State-backed DRAM supplier rides AI boom to record IPO despite valuation concerns
Chipmaker CXMT’s held a record IPO on the Shanghai STAR Market with its landmark share sale on July 27. © Reuters
WATARU SUZUKI
July 27, 2026 10:43 JST
Updated on July 27, 2026 12:00 JST
SHANGHAI — Chinese memory chip maker CXMT jumped in its stock market debut on Monday, after raising at least 57.9 billion yuan ($8.6 billion) in Asia’s largest initial public offering so far this year.