NewsHK
China's domestic chip sector has rarely produced a market event of this scale.
CXMT, the chip group that brought China's largest mainland IPO since 2010 to market, surged more than 500% on its first trading day, vaulting to the top of the country's market cap rankings and becoming the most valuable listed company on the mainland.
A debut that resets the sector benchmark A gain of more than 500% on the first day of trading is not a routine rerating.
It reflects the gap between offer price and the weight of demand behind it, a dynamic familiar to anyone who has watched mainland IPO mechanics at work.
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