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.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.
What is YMTC, the latest contender in China’s memory-chip IPO push?
As China’s memory-chip giants YMTC and CXMT progress towards IPOs, they shine a spotlight on Beijing’s tech self-sufficiency ambitions.
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