China Memory Chipmaker YMTC Begins IPO Preparations
Yangtze Memory Technologies Co has hired CITIC Securities to provide formal guidance for a potential stock market listing. The move follows recent profitability at domestic rival CXMT as China seeks to establish a stronger foothold in the global memory market despite ongoing U.S. trade restrictions.
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Yangtze Memory Technologies Co has started pre-IPO coaching with CITIC Securities to prepare for a potential domestic stock market listing. The move follows rival Changxin Memory Technologies revealing its first annual profit and a 700% first-quarter revenue surge. A successful listing would provide capital for China to challenge established global leaders in the memory chip sector.
