Bloomberg reported referring to sources familiar with the discussions that Yangtze Memory Technologies Co. (YMTC), the largest NAND flash memory manufacturer in China, is aiming for an initial public offering (IPO) in Shanghai during the first quarter of 2027.
Sources indicate that YMTC is set to go public on the STAR Market, a platform specifically set for technology firms. The firm seeks to generate 33 billion yuan ($4.9 billion) via the IPO.
YMTC submitted its application for a Shanghai IPO in August. The offering is anticipated to be the second-biggest in Asia this year, surpassed only by the IPO of memory chip manufacturer CXMT, which secured 66.6 billion yuan (almost $10 billion) in July.
YMTC’s potential public listing may address investor worries about instability in the Chinese market and the possibility of Beijing delaying the IPOs of significant firms, according to Bloomberg.
According to data from the research firm Counterpoint Research, YMTC ranks as the world’s third-largest NAND memory producer by shipment volume. It has outpaced rivals like Japan’s Kioxia Holdings and America’s Micron Technology, falling just behind South Korean leaders Samsung Electronics and SK Hynix.
A significant portion of YMTC’s expansion is fueled by providing memory for artificial intelligence data centers: a market segment the company developed from the ground up only two years prior, Bloomberg writes, referencing Counterpoint.
source: bloomberg.com
