CXMT joins MSCI Index, marking fast track into global capital markets
MSCI announced on July 28 that CXMT had met the eligibility criteria, with the inclusion taking effect on August 10.
MSCI announced on July 28 that CXMT had met the eligibility criteria, with the inclusion taking effect on August 10.

But today, CXMT is refusing to make even a price concession. The reason is not arrogance. The rules of the game have changed.

Rather than seeking a quick exit, the consortium positioned itself as a long-term partner in a strategic technology race.

The closing price was only 1% below the opening level, with the stock trading at elevated levels throughout the session.

CXMT’s listing marks the largest semiconductor IPO in A-share history and one of Asia’s biggest public offerings this year.

It operates three 12-inch DRAM fabs in Hefei and Beijing with combined monthly capacity exceeding 300,000 wafers.

As chipmakers build new fabs and upgrade production lines, semiconductor equipment suppliers have become some of the biggest beneficiaries.

The deal would rank second only to Semiconductor Manufacturing International Corporation’s record 53.2 billion yuan STAR Market IPO in 2020.

The filing came one day after leading domestic DRAM producer Changxin Memory Technologies cleared a key listing hurdle in Shanghai.