Daily Market Updates: CXMT shares surge 500% in Shanghai IPO after pricing at 8.66 yuan

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CXMT shares surge 500% in Shanghai IPO after pricing at 8.66 yuan

CXMT, a Hefei-based memory chipmaker, raised 57.9 billion yuan, or about $8.6 billion, in its IPO.

Reported · Written up by our desk · China

China memory chipmaker CXMT jumped about 500% in its Shanghai debut after pricing its initial public offering at 8.66 yuan per share, CNBC Markets reports.

The offering brought in 57.92 billion yuan, equivalent to about $8.6 billion, following the companys IPO pricing.

CXMT is based in Hefei, according to the report.

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Sources

CNBC MarketsChina memory chipmaker CXMT skyrockets 500% in blockbuster Shanghai debut

CNBC WorldChina memory chipmaker CXMT skyrockets 500% in blockbuster Shanghai debut

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CXMT shares surge 500% in Shanghai IPO after pricing at 8.66 yuan

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