The Curious Case of CXMT: China’s Chip Giant Surges 470% in Shanghai Debut After Asia’s Biggest IPO

Shares of ChangXin Memory Technologies (CXMT) soared around 470% on their stock market debut on Monday, July 27, 2026, turning China’s largest DRAM memory producer into one of the country’s most valuable tech firms following Asia’s biggest initial public offering this year. The Hefei-headquartered memory giant priced its IPO at 57.92 billion yuan ($8.6 billion), representing the largest exchange listing in mainland China since Agricultural Bank of China went public in 2010. Shares debuted on Shanghai’s technology-focused STAR Market at over 49 yuan, compared to an offer price of 8.66 yuan per share. The opening surge pushed CXMT’s market capitalization…