CCSH Corporation, the parent of chipmaker Yangtze Memory Technologies, has filed a prospectus for a potential record-breaking IPO on the Shanghai Star Market.
Key facts
- •CCSH Corporation plans to sell 1.98 billion to 2.43 billion shares.
- •The company has earmarked 33 billion yuan for production upgrades and R&D.
- •The IPO prospectus was made public on Friday.
- •The offering represents 10 to 12 percent of the company's enlarged share capital.
- •The target baseline surpasses the 29.5 billion yuan set by CXMT before its July IPO.
CCSH Corporation, the parent company of Chinese NAND flash memory giant Yangtze Memory Technologies Corporation (YMTC), is preparing for an initial public offering on Shanghai’s Star Market. According to a prospectus released on Friday, the company plans to sell between 1.98 billion and 2.43 billion shares, representing 10 to 12 percent of its enlarged share capital.
By the numbers
Fundraising and Investment Plans
The company has set a baseline fundraising target of 33 billion yuan (US$4.9 billion) for its investment projects. Of this amount, 20.8 billion yuan is designated for upgrading mass-production lines, while 12.2 billion yuan is allocated for research and development. An overallotment option of up to 15 percent may also be exercised as part of the offering.
Market Context and Comparisons
The 33 billion yuan target exceeds the 29.5 billion yuan baseline set by ChangXin Memory Technologies (CXMT) prior to its July float. CXMT ultimately raised 66.6 billion yuan, setting a record for the largest Star Market IPO to date. YMTC’s final fundraising total remains subject to market demand and has not yet been finalized.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by SCMP Business.
