Moore Threads surged 411% on its first trading day

Moore Threads hit the Shanghai STAR Market on Friday, and the stock surged by an astonishing 411% in the first session. The price rose from an IPO level of 114.28 yuan straight to 584.98 yuan. Moore Threads is now China’s second‑largest onshore IPO of the year, after Huadian New Energy Group’s $2.7 billion deal in July. The Beijing-based company pulled in nearly 8 billion yuan, or about $1.13 billion, from the public sale. That priced the business at around $7.6 billion. Demand was heavy from the start. The retail portion of the offering was oversubscribed 2,750 times, even after the greenshoe option kicked in. Bloomberg data shows it is now the second most chased mainland IPO above $1 billion since 2022. China is focusing on homemade chips as Nvidia fades away Earlier this year, Chinese regulators relaxed listing rules on the STAR Board, a change that allowed unprofitable firms to...

https://www.cryptopolitan.com/chinas-nvidia-moore-threads-surges-411/