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Changxin soars on its first day after listing!
The issue price is 8.66 yuan, and the stock surged to 49.50 yuan at the open.
The share price skyrocketed by 472%!
Chinese semiconductors welcome a super IPO.
The market cap even briefly surpassed Industrial and Commercial Bank of China!
Changxin Technology (CXMT) blasted the market with its performance on the first day of trading: its share price rose from the issue price of 8.66 yuan to the opening price of 49.50 yuan, with a gain of 472%.
The IPO raised about 57.92 billion yuan (8.6 billion USD), becoming the largest IPO in Asia by size for 2026. After listing, the company’s market cap surged to about 3.3 trillion yuan (487 billion USD) at one point, rising sharply versus the IPO valuation of about 85.5 billion USD, and surpassing Industrial and Commercial Bank of China to become the highest market-cap listed company in mainland China.
The market is re-pricing China’s semiconductor assets.
What capital is chasing isn’t just the stock, but the long-term domestic chip narrative. #长鑫今日上市成交901亿