Chinese memory giant CXMT oversubscribed 212 times in mega Shanghai IPO

More than 9.4 million investor accounts applied for shares in the blockbuster initial public offering (IPO) of ChangXin Memory Technologies (CXMT), with retail demand reaching about 212 times the shares initially available online. Investors submitted valid applications for nearly 817 billion shares on Thursday, according to an official announcement published Thursday night. The response highlights the intense appetite for China’s leading producer of dynamic random-access memory, or DRAM, as...