YMTC Parent Files for $4.9 Billion IPO on Shanghai Star Market

Key facts

• CCSH Corp., parent of Chinese NAND flash-memory maker YMTC, filed for a $4.9 billion IPO.
• The IPO is planned for Shanghai's STAR Market.
• The company intends to sell between 1.98 billion and 2.43 billion shares.
• This offering could be one of the largest on the STAR Market.

CCSH Corp., the parent company of China's leading NAND flash-memory maker Yangtze Memory Technologies Co. Ltd. (YMTC), has filed an application for an initial public offering on Shanghai's STAR Market. The company aims to raise 33 billion yuan ($4.9 billion) through the listing, which could set a new record for the exchange. CCSH Corp. plans to sell between 1.98 billion and 2.43 billion shares, representing 10% to 12% of its enlarged share capital, according to its prospectus. This move follows the successful debut of rival chipmaker CXMT Corp. and signals continued investor interest in China's domestic semiconductor industry.