CXMT Shares Jump 472% on Shanghai Debut to Value Chipmaker at 3.3 Trillion Yuan, Become China’s Most Valuable Listed Firm
Shares of Chinese memory chipmaker CXMT jumped 472% on their Shanghai debut, opening at 49 yuan and pushing the company’s market capitalization to roughly 3.3 trillion yuan. Priced at 8.66 yuan per share, the surge turned CXMT into mainland China’s most valuable listed company.
The offering raised 66.6 billion yuan ($9.8 billion), making it the second-largest initial public offering in mainland China since 2010. The listing also set a record for single-stock daily turnover on the A-share market, with 90.1 billion yuan traded in a session that saw trading briefly halt and partially resume after brokerage order queues overwhelmed systems.
From the sources (25 posts)
@teortaxestexLmao I think this isn't just about CXMT's strength (which is obvious given their near monopoly position). It's that Huawei has competitors. it's not clear they "deserve" chips more than half a dozen other supernode vendors.
@reutersThe global buildout of AI data centers has transformed memory chips into one of the world's most sought-after products, sparking battles over pricing and a scramble for supply. China’s chip makers are now picking clients and dictating price
@reutersbizThe global buildout of AI data centers has transformed memory chips into one of the world's most sought-after products, sparking battles over pricing and a scramble for supply. China’s chip makers are now picking clients and dictating price
@reutersChina’s memory chip makers ride AI boom to new power — and U.S. scrutiny
@wallstengineCHINESE MEMORY IS NO LONGER THE CHEAP ALTERNATIVE China’s largest DRAM maker, CXMT, is reportedly charging more than Samsung’s roughly $1,240 price for comparable 64GB DDR5 server memory modules. CXMT spent years competing as a cheaper, s
@wallstengineReuters: For months, Chinese chip manufacturer, CXMT had been hiking prices on Huawei, one of the country’s biggest technology companies. The chipmaker held firm when Huawei demanded relief from the escalating costs, according to two people
@stocksavvyshayChina’s largest DRAM maker CXMT is reportedly charging more than Samsung for comparable 64GB DDR5 server memory. The company has also secured over $10B in long-term deals with ByteDance and Tencent as AI demand tightens supply. https://t.c
@reutersHow the 'twin stars' of China, CXMT and YMTC, changed the chip game
@jukan05Advance notice: CXMT is going public tomorrow.
@jukan05@psyduckcapital I wouldn’t be surprised if it hits a 5 trillion RMB valuation on its first day of trading.
@jukan05@psyduckcapital They say the Korean stock market fell on Friday because Chinese funds sold stocks to participate in the CXMT IPO. We’ll have to wait and see whether it falls again tomorrow.
@jukan05@zephyr_z9 Korean sell-side analysts say that if CXMT commands a high valuation, Samsung and SK Hynix will also be rerated higher—but we’ll see.
@zephyr_z9@jukan05 i also believe this, but in the short term, flows will go down
@jukan05Nomura just initiated coverage on CXMT, assigning it a price target of RMB 116 and arguing that it deserves a 20x P/E multiple—twice Micron’s valuation. That implies a 13.4x increase from the IPO price and a market capitalization of roughl
@zephyr_z9IPO market cap - $85B Nomura - $1T 🤣🤣🤣🤣🤣
@zephyr_z9CXMT will start trading in 3 hours It will be the craziest IPO I have ever seen
@photoncapinsanely expensive
@reutersChina memory chipmaker CXMT set for Shanghai debut after Asia's biggest IPO
@businessCXMT is set to begin trading in Shanghai on Monday after raising 66.6 billion yuan ($9.8 billion) in the second-largest IPO in China’s history, with potential for a first-day gain that would make it the largest company in the country https:
@firstsquawkChina’s chipmaker CXMT expected to jump roughly 470% at Shanghai listing debut.
@firstsquawkCXMT shares are expected to begin trading near 49.5 yuan, significantly above the IPO price of 8.66 yuan.
@firstsquawkCXMT Shares Expected to Soar, Pushing Valuation Toward 3.3 Trillion Yuan at Open
@yoolimleenewsChinese chipmaker CXMT jumps 472% in debut after $9.8 billion IPO
@cnbcChina memory chipmaker CXMT skyrockets 470% in Shanghai debut
@negligible_cap*CHINA CHIPMAKER CXMT JUMPS 472% IN DEBUT AFTER $9.8 BILLION IPO Hot start for CXMT