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China’s YMTC targets $4.9b Shanghai IPO as soon as early 2027
Yangtze Memory Technologies Co. (YMTC), a Wuhan-based Chinese memory chipmaker, is targeting an initial public offering on Shanghai’s STAR Market as soon as the first quarter of 2027, according to people familiar with the matter.
They said the plan is still moving forward, despite a report last week that the IPO was on hold.
The Shanghai Stock Exchange began its formal review in September.
YMTC plans to raise 33 billion yuan (US$4.9 billion).
Its filing says the proceeds would mainly expand capacity at its Wuhan fab, fund next-generation 3D NAND research, and supplement working capital.
YMTC was added to the US Entity List in December 2022, which imposed license requirements on specified items covered by US export rules.
China has at times slowed approvals for listings.
The STAR Market was designed to support hard-tech companies, while AI data center expansion is lifting demand for enterprise solid-state drives and higher-density NAND chips.
🔗 Source: Bloomberg
