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CXMT's $8.6B DRAM IPO Oversubscribed 570×, STAR Market Slumps

7/19/2026

Summary

Story summary

CXMT Corp’s $8.6 billion IPO was oversubscribed about 570 times by institutional investors.
Institutional investors subscribed for 1.24 trillion shares against the 2.17 billion shares offered.
Retail investors oversubscribed the offering by 243.93 times.
CXMT is the world’s fourth-largest DRAM chipmaker after Samsung, SK Hynix and Micron.
The STAR Market, down about 25% since its July 1 peak and having erased over 4 trillion yuan ($590.32 billion) in market value, will host CXMT’s listing later this month.

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Story summary

CXMT Corp’s $8.6 billion IPO was oversubscribed about 570 times by institutional investors.
Institutional investors subscribed for 1.24 trillion shares against the 2.17 billion shares offered.
Retail investors oversubscribed the offering by 243.93 times.
CXMT is the world’s fourth-largest DRAM chipmaker after Samsung, SK Hynix and Micron.
The STAR Market, down about 25% since its July 1 peak and having erased over 4 trillion yuan ($590.32 billion) in market value, will host CXMT’s listing later this month.