China's YMTC puts its 33 billion yuan Shanghai IPO on hold as chip stocks slide, sources say
Reuters cites an internal note saying the listing of the NAND flash maker's parent is paused for "various factors"; the company has not commented publicly.
Why it matters
YMTC is China's top NAND memory maker and a pillar of Beijing's chip self-reliance push, so a pause in one of the largest planned STAR Market listings is a signal for China's AI and chip financing. Its parent filed in August and was preparing a strategic share placement in late October and early November. The pause follows an 8.5% fall in the CSI 300 in October and a roughly 40% drop in the STAR50 from its July peak, and reports that regulators asked banks to slow AI and chip IPOs. Watch for a new timetable.
Key facts
- Company: YMTC, China's top NAND flash maker
- Planned STAR Market listing: 33 billion yuan
- Parent filed for the IPO in August
- Internal note cites "various factors"
- CSI 300 fell 8.5% in October
- STAR50 down about 40% from its July peak