Memory chipmaker CXMT sees shares surge 466%, becomes one of China’s most valuable listed companies right below Tencent

On Monday, Chinese memory manufacturer CXMT made its initial public offering on Shanghai’s STAR stock market. This debut was the biggest in Asia this year, raising $8.6 billion and seeing shares in the company surge by 466%. In terms of valuation, that places CXMT right at the top of China’s stock market.CXMT’s market capitalisation is…