Chinese flash-memory chipmaker YMTC plans to raise $4.9 billion in Shanghai IPO
The move sets the stage for a 33 billion yuan ($4.9 billion) share sale on Shanghai's Nasdaq-style STAR Market, that would rank among the market's biggest-ever offerings, the exchange said.
Yangtze Memory Technologies Corp., commonly known as YMTC, has secured approval from Shanghai's stock exchange to list its shares in the market, according to recent filings. This development marks a significant milestone for the Chinese chipmaker as it prepares to embark on an ambitious $4.9 billion share sale on Shanghai's Nasdaq-style STAR Market.
The exchange's announcement underscores the magnitude of this offering, positioning it among the largest ever conducted on the market. The listing comes on the heels of other highly anticipated initial public offerings (IPOs) by prominent Chinese technology firms, such as memory chip maker ChangXin Memory Technologies (CXMT) and robotics company Unitree.
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