CXMT went public on Monday on Shanghai’s tech-focused STAR Market and its stock jumped 466 per cent in its market debut. Its IPO was 212 times oversubscribed, according to Bloomberg. The company’s market capitalization on Monday briefly surpassed that of Chinese internet giant and WeChat developer Tencent Holdings Ltd. Now valued at roughly US$490 billion, CXMT is the most valuable company listed in mainland China. (Tencent, valued at US$519 billion, is Hong Kong-listed).