Memory chip maker YMTC moves toward IPO
Yangtze Memory Technologies Co. Ltd. (YMTC) has formally launched its initial public offering process after China’s securities regulator accepted the company’s pre-listing tutoring application Tuesday. The domestic listing of China’s leading NAND flash memory maker is expected to command a massive valuation, with market estimates placing the company’s worth at between 2 trillion yuan ($277 billion) and 3 trillion yuan. The anticipated IPO of the national memory-chip champion highlights Beijing’s efforts to finance semiconductor self-sufficiency as domestic technology firms expand rapidly despite strict U.S. export controls.
