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ChangXin Memory Technologies, Inc. (CXMT) made its debut on the STAR Market of the Shanghai Stock Exchange today. The company is expected to raise 57.919 billion yuan ($7.94 billion) through this initial public offering (before the exercise of the over-allotment option). With an opening price of 49.5 yuan per share, its stock price surged by 471.59% at one point during intraday trading, pushing its total market capitalization to 3.31 trillion yuan.
CXMT is China's largest and most technologically advanced integrated enterprise specializing in the research, development, design, and manufacturing of DRAM. Its products primarily cover two mainstream series: DDR and LPDDR. The company has become the top DRAM manufacturer in China and the fourth largest globally.
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