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A debut pop is the gap between what investors pay during an IPO and what the open market charges once trading begins. When that gap reaches 466%, the company behind it does not simply list.
It arrives as the most valuable company on China's domestic exchanges.
CXMT, the Hefei-based chipmaker, produced that result on its first day of public trading, raising 57.92 billion yuan ($8.6 billion) at an IPO price of 8.66 yuan per share before the stock multiplied more than five times above that offer.
What the raise locked in The 57.92 billion yuan is money CXMT collected at a fixed, pre-trading price. Every investor who participated in the IPO allocation bought at 8.66 yuan per share.
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