AI and robotics drive an IPO boom in China
This file photo shows workers at the booth for Chinese DRAM producer ChangXin Memory Technologies, also known as CXMT, wait for visitors at the 21st China International Semiconductor Expo in Beijing, Nov. 20, 2024. (AP Photo)
Chinese markets are booming with new public stock offerings, energized by the craze for artificial intelligence and other advanced technology and a growing preference to list shares in Hong Kong and Shanghai.
In the latest big stock listing, shares in China-founded e-commerce and fast fashion giant Shein are due to debut Sept. 1 in Hong Kong in a blockbuster initial public offering raising $1.7 billion, in one of the city’s biggest new share sales this year.
In July, CXMT, China’s largest memory chipmaker, raised more than $8.6 billion in Shanghai in the second-largest IPO for its Nasdaq-style STAR market, mainland China’s second-largest IPO. Its shares jumped 466 percent on the first day of trading.
