Sources and company memo: Chinese NAND flash maker YMTC has put its Shanghai IPO on hold as China tightens share sale approvals; YMTC sought to raise ~$4.9B (Reuters)
Flash-memory chipmaker Yangtze Memory Technologies Co has put its Shanghai IPO on hold, according to a company memo and three people …
Pakistani cement manufacturer Thatta Cement is set to enter the country's electric vehicle (EV) market, the company announced in a filing to the Pakistan Stock Exchange (PSX). Through its wholly owned subsidiary, Thatta Cement will initially import completely built-up (CBU) electric vehicles from China.
The EV market in Pakistan is seeing rapid growth, fueled by increasing consumer interest, the arrival of new international and domestic brands, and government incentives and tax breaks promoting electric mobility. Thatta Cement's strategy focuses on the largely untapped mass-market segment, rather than the conventional niche EV or premium electric vehicle markets.
The company aims to introduce affordable, compact, and small electric vehicles tailored to the mobility needs and purchasing power of a wider consumer base. This move aims to capitalize on the emerging market opportunity, establish a foothold in Pakistan's evolving EV industry, and develop a sustainable business platform in the long term. The company has not disclosed the investment amount required for this venture.
Pakistan's EV industry is experiencing a surge, driven by government policies, environmental concerns, and rising fuel costs. However, the sector faces significant challenges and is still in its infancy, requiring time and consistent government support to develop necessary infrastructure and an ecosystem.
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