The target price is set at 8.66 yuan per share and bidding is set to begin as early as Thursday, according to company documents.
If the plans go ahead, CXMT will raise 66.6 billion yuan (approximately SEK 95 billion) in new capital in connection with the IPO. This is slightly more than double the amount previously speculated.
The CXMT listing could thus be the largest in Asia since LG Energy Solution was listed in Seoul in 2022. In dollar terms, CXMT wants to raise $9.8 billion, which can be compared with the Shanghai Stock Exchange record of $10 billion in 2010, in the listing of the Agricultural Bank of China.
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