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Chinese Province Sees $248 Billion Windfall from CXMT Listing
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Chinese Province Sees $248 Billion Windfall from CXMT Listing
The listing of ChangXin Memory Technologies (CXMT) resulted in a significant windfall for the Chinese province of Anhui. The local memory chipmaker's shares surged over 460% in their Shanghai trading debut on July 27, making CXMT the largest listed firm in China. Anhui, particularly through entities like the Hefei Industry Investment Holding Group, holds a substantial 40% stake in CXMT, valued at approximately 1.3 trillion yuan ($248.21 billion)…
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