IPO
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 AM JST
Updated on July 27, 2026 17:06 JST
In Shanghai, Chinese memory‑chip manufacturer CXMT surged on its market debut Monday, having raised at least 57.9 billion yuan (approximately $8.6 billion), marking the largest IPO in Asia this year.