China’s push for semiconductor self-reliance is hitting the capital markets.
The parent company of Yangtze Memory Technologies Co (YMTC), the nation’s leading 3D NAND flash memory manufacturer, officially started the tutoring process for an initial public offering (IPO) on Tuesday, according to a filing with the China Securities Regulatory Commission. Citic Securities and China Securities are acting as tutoring institutions.
Meanwhile, its peer, ChangXin Memory Technologies (CXMT), China’s leading DRAM maker, is further along the listing track with an upcoming review by the listing committee scheduled for May 27, according to the Shanghai Stock Exchange.
Advertisement
Here is a run down on YMTC’s business, its technology and an explanation of why investors are watching closely.
What is YMTC and what does it do?
Founded in December 2016, YMTC is China’s leader in 3D NAND flash memory – the non-volatile storage used to hold data in solid-state drives (SSDs), smartphones, PCs and data centres.
Advertisement