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Chinese memory chipmaker Yangtze Memory Technologies Co. (YMTC) will cede control of its foundry unit to a state-backed fund, streamlining operations ahead of a blockbuster domestic listing.
The divestment of a 39% stake in Wuhan Xinxin Semiconductor Manufacturing to a state-backed investor coincides with YMTC’s initial public offering plans
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Chinese memory chipmaker Yangtze Memory Technologies Co. (YMTC) will cede control of its foundry unit to a state-backed fund, streamlining operations ahead of a blockbuster domestic listing.

Holding company elects board and restructures ownership to boost transparency and secure investor confidence

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