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China memory chipmaker CXMT's shares soar in a blockbuster listing in Shanghai
Shares of CXMT, China's largest memory chipmaker, shot skyward Monday as they began trading in Shanghai in mainland China's biggest initial public stock offering in recent years.
Washington Times News reporting30 sentences analyzed3,923 captured characters
HONG KONG — Shares of CXMT, China’s largest memory chipmaker, shot skyward Monday as they began trading in Shanghai in mainland China’s biggest initial public stock offering in recent years.
The company has become the most valuable one listed on a mainland Chinese exchange, with an estimated market capitalization of about 3.3 trillion yuan (more than $487 billion).
But that’s still smaller than those of South Korean and American memory chipmakers like Samsung Electronics, SK Hynix and Micron Technology.
CXMT, or ChangXin Memory Technologies, is among many chipmakers that have profited mightily from the boom in artificial intelligence.
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