Shares of CXMT Corp soared 466% on their Shanghai trading debut on Monday following Asia's biggest IPO this year, catapulting the chipmaker to the top of China's stock market by valuation despite a recent selloff in global tech stocks.
The one-day surge was the largest among the world's 10 biggest IPOs this year by deal value, based on Dealogic data. The jump was also the largest recorded among Chinese new listings valued at $5 billion or more in Dealogic data going back to 2006.
