China’s YMTC Kicks Off IPO Process to Tap Booming Memory Demand

Yangtze Memory Technologies Co. has begun the process for a long-awaited initial public offering, tapping red-hot demand for the chipmakers at the heart of a global AI development boom.

The company known as YMTC started a pre-listing tutoring process with local brokers Citic Securities and CSC Financial, it said in a statement Tuesday. The move is an initial step toward an eventual debut on public bourses.