Shares in mainland Chinese chipmaker CXMT rose nearly 466 percent on Monday on the company’s debut on Shanghai’s STAR Market, making it the country’s most-valuable listed firm.
The IPO occurred the same day that China’s statistics office published figures showing that the country’s major chipmakers saw a 2,579.5 percent rise in profits in the first half of this year, compared to the same period a year ago, due to spiralling demand for AI computing power.
Hefei-based CXMT raised 57.92 billion yuan ($8.6bn, £6.4bn) after pricing its shares at 8.66 yuan each, in Asia’s biggest debut so far this year.
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Chip surge
