YMTC Files For $4.9 Billion Shanghai STAR Market IPO
· Business · Economic Times, Bloomberg, Investing.com
Chinese flash-memory chipmaker Yangtze Memory Technologies Corp has received stock exchange acceptance for an initial public offering in Shanghai. The company plans to raise 33 billion yuan, equivalent to $4.9 billion, on Shanghai's STAR Market. The offering will rank among the largest-ever listings on the exchange. The move follows recent public offerings by other Chinese technology firms, including ChangXin Memory Technologies and robotics company Unitree.
Why it matters
A successful public offering will provide YMTC with significant capital to scale domestic semiconductor manufacturing amid global tech curbs.
Read the original report — Economic Times
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