Chinese Chipmaker CXMT Prices Shanghai IPO At $9.8 Billion
China's securities regulator cleared CXMT's registration weeks before Shanghai's exchange fixed this week's per-share price for the offering.
- CSRC approved CXMT's registration on June 5, clearing the offering to proceed.
- Shanghai exchange's July 14 filing set the price at 8.66 yuan per share.
- Up to 7.69 billion shares, plus a 15 percent over-allotment option, would raise about 66.6 billion yuan.
Why it matters: A regulator that approves the winner before the sale, not the market, sets the price.
CSRC (China Securities Regulatory Commission) approval + SSE IPO issuance filing for CXMT (长鑫科技集团股份有限公司), stock 688825/002170 ↗ · Jul 14, 20267/14/26 · ✓ Checked✓ Check