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.

YMTC joins ChangXin Memory Technologies Inc. in seeking to raise capital to expand capacity and bolster Beijing’s drive for tech self-sufficiency. Investors have piled into the makers of flash memory like YMTC, betting ...