Global M&A and IPO Markets Surge with CXMT Listing and Comcast Spinoff in Focus

M&A/IPO | Fri Jul 24 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 8 sources

CXMT's record-breaking IPO, Comcast's NBCUniversal spinoff, and a wave of defense sector listings drove active global dealmaking.

Analysis

[CXMT (ChangXin Memory Technologies)] listed on Shanghai STAR Market in largest-ever IPO ^[1][7]

• Raised approximately $8.6 billion
• IPO priced at 8.66 yuan per share
• market cap of 579 billion yuan
• China's largest DRAM memory chip manufacturer
• Monday trading debut expected to reignite China semiconductor stock rally

[CXMT (Crypto Derivatives Market)] traded CXMT-linked perpetual futures contracts on Hyperliquid ^[7]

• Futures priced at $6.35 per share
• recently spiking to $8.60
• Implies market cap of approximately $425 billion (2.9 trillion yuan)
• Could surpass ICBC to become China's largest listed company
• Foreign investor access restrictions drove the premium

[Comcast / NBCUniversal] announced media and broadband business spinoff plan and achieved first Peacock profit ^[5][8]

• Targets completion of spinoff within approximately one year
• Peacock streaming service turned its first quarterly profit
• Content & Experiences revenue grew 23% to $10.7 billion
• Broadband saw a net loss of 167
• 000 subscribers

[Lyntris Inc.] filed for U.S. IPO, joining defense sector listing rush ^[2]

• Defense tech company backed by Trive Capital
• Riding the recent wave of defense sector IPOs

[Advent International / Tigre SA] hired Morgan Stanley as advisor to pursue Tigre stake sale ^[3]

• Brazilian pipe and hydraulic systems manufacturer Tigre
• Advent reviewing sale of its stake

[Oracle / Pentagon] signed 10-year software contract with Department of Defense worth up to $7 billion ^[6]

• Provides on-premise software for military
• intelligence agencies
• and Coast Guard
• 5-year base contract includes perpetual and subscription licenses
• Saves taxpayers at least $441 million
• Stock rose approximately 3% in after-hours trading following announcement

[U.S. Department of Justice (DOJ)] announced streamlined corporate M&A review process ^[4]

• Focuses on core competitive concerns rather than broad investigations
• Streamlines merger review process

Sources

• [1] CXMT’s Frenzy Ignites Hopes of Futher Hardware Rally in China - Bloomberg Markets
• [2] Trive-Backed Lyntris Files For US IPO, Joining Defense Rush - Bloomberg Markets
• [3] Advent to Hire Morgan Stanley to Sell Its Tigre Stake - Bloomberg Markets
• [4] US justice department to streamline company merger reviews - Financial Times
• [5] Comcast-owned Peacock Achieves Profitability for the First Time Ever. Here’s What Investors Need to Know Ahead of Comcast’s NBCUniversal Spin-Off. - The Motley Fool
• [6] Oracle signs 10-year software contract with Pentagon worth up to $7 billion - CNBC World Markets
• [7] Chip firm priced as China's most valuable company before its IPO brings scrutiny to crypto platform - CNBC World Markets
• [8] Comcast earnings highlight NBCUniversal strength ahead of planned split - CNBC Earnings