Chinese flash-memory chipmaker YMTC plans to raise $4.9 billion in Shanghai IPO

BEIJING, Aug 21 : Chinese chipmaker Yangtze Memory Technologies Corp’s (YMTC) application to list its shares in Shanghai has been accepted by the financial hub’s stock exchange, filings showed on Friday

The move sets the stage for a 33 billion yuan ($4.9 billion) share sale on Shanghai’s Nasdaq-style STAR Market, that would rank among the market’s biggest-ever offerings, the exchange said.

The listing follows recent blockbuster flotations by other Chinese technology champions, including memory chip maker ChangXin Memory Technologies, or CXMT, and robotics company Unitree.