1 month ago
CXMT's $8.6B Shanghai IPO Oversubscribed Amid Chip Selloff
CXMT Corp, a big Chinese chipmaker, is going public with an IPO worth $8.6 billion.
Lots of big investors wanted to buy shares, but not as many as in other recent tech IPOs.
This is because chip stocks have been losing value lately.
The company makes DRAM chips, which are used in many electronics.
The IPO is the biggest in Asia this year and will test how investors feel about tech stocks right now.
The stock is expected to start trading soon, but the exact date isn't confirmed yet.
CXMT Corp's $8.6 billion IPO was 570 times oversubscribed by institutional investors.
Retail portion of the IPO was 243.93 times oversubscribed.
The IPO is Asia's largest this year and will list on Shanghai's STAR Market.
Global chip stocks have seen a significant selloff, affecting investor sentiment.
CXMT is the world's fourth-largest DRAM chipmaker.
- Who
- CXMT Corp, institutional investors, retail investors
- What
- Initial Public Offering (IPO) on Shanghai's STAR Market
- Where
- Shanghai's STAR Market
- When
- Expected listing on July 27
- Why
- To raise capital and test market demand amid a global chip stock selloff
Optimistic Investors
Cautious Investors
Market Demand
Optimistic Investors
The high oversubscription ratio indicates strong institutional demand for CXMT's IPO, reflecting confidence in the company's prospects and the tech sector.
Cautious Investors
The lower oversubscription compared to recent IPOs and the global chip stock selloff suggest caution and potential overvaluation concerns.
Key facts
- Company
- CXMT Corp
- IPO Value
- $8.6 billion
- Oversubscription Ratio (Institutional)
- 570 times
- Oversubscription Ratio (Retail)
- 243.93 times
- Expected Listing Date
- July 27 (unconfirmed)
- Market Impact
- STAR Market down 25% from July 1 peak
- Market Value Wiped Out
- Over 4 trillion yuan ($590.32 billion)
- Global Rank
- 4th-biggest DRAM chipmaker
Sources
Related news
Chess Prodigy Urges Humans To Stay In Charge Of AI
Shingrix Linked to Lower Heart Attack and Stroke Risk
Professor, Five Students Arrested in IGKV Paper Leak
IIT Bombay Launches E-PG Diploma In Computer Science And AI
Seven AI Courses Offer Paths From Free Lessons to Credentials
China's Superman Robot Claims Speed Beyond Usain Bolt
Unitree's Superman Robot Outruns Usain Bolt, Crashes Into Box
Unitree targets $9 billion valuation in landmark humanoid robotics IPO
