Chinese chipmaker CXMT to list in Shanghai on July 27 after Asia's biggest IPO this year

CXMT Corp’s shares begin trading in Shanghai on Monday after the company raised 57.92 billion yuan ($8.6 billion) in what’s described as Asia’s biggest IPO so far this year. The fundraising strength and new listing are likely to boost sentiment around China’s memory-chip sector, though the impact is more targeted than market-wide.

Analysis

CXMT Corp’s shares begin trading in Shanghai on Monday after the company raised 57.92 billion yuan ($8.6 billion) in what’s described as Asia’s biggest IPO so far this year. The fundraising strength and new listing are likely to boost sentiment around China’s memory-chip sector, though the impact is more targeted than market-wide.