ChangXin Memory Technologies, China’s largest DRAM chipmaker, reached a market capitalization of $540.5 billion by Friday midday after its shares rose 4%, according to the report cited by Business Insider. That put the company just behind Intel, which stood at $552.6 billion, and ahead of Tencent at $505.8 billion. LSEG ranked CXMT 24th globally by market value.
The Anhui-based company completed an initial public offering worth about $8.6 billion on July 27. On its first trading day, the stock closed 466% above its IPO price, making it the most valuable listed company in mainland China. Over the same period, Intel shares declined, while Tencent shares were down about 26% for the year.
CXMT is currently the world’s fourth-largest DRAM producer, behind Samsung Electronics, SK Hynix, and Micron. Nomura expects its share of global DRAM output to rise from about 10% to about 18% by the end of 2028. Bernstein analysts said the IPO would give the company more cash to support capital spending.
ChangXin Memory Technologies (CXMT), China’s largest DRAM memory chip producer, reached a market capitalization of $540.5 billion by Friday midday after its shares gained 4%, according to the report carried by Business Insider.
At that valuation, the company trailed only Intel, which stood at $552.6 billion, and was ahead of Tencent at $505.8 billion. LSEG ranked CXMT 24th among global companies by market value.
Headquartered in Anhui, CXMT completed an initial public offering worth about $8.6 billion on July 27. The stock closed 466% above its offering price on its first trading day, making it the highest-valued listed company in mainland China. Over the same period, Intel shares moved lower, while Tencent shares were down about 26% this year.
CXMT is now the world’s fourth-largest DRAM producer, behind Samsung Electronics, SK Hynix, and Micron. Nomura expects the company’s share of global DRAM output to increase from about 10% to about 18% by the end of 2028. Bernstein analysts said the IPO would provide more cash for the company’s capital expenditure plans.
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