Chinese memory maker CXMT debuts at $488 bn valuation, becomes China's top listed firm

Chinese DRAM manufacturer Changxin Technology Group (CXMT) made its IPO on Shanghai's STAR market with a market capitalisation of approximately $487.73 billion, making it China's most valuable listed company — surpassing even ICBC, though still below Tencent at around $500 billion. The debut raised $8.6 billion and was the biggest IPO in Asia this year, with shares surging 466%.