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Citrini view: Yangtze Memory Technologies may December go public as early as this year, competing with CXMT for liquidity

BlockBeats reported that October 18, Citrini analyst Jukan reposted a Hanwha Investment report from a Korean brokerage, stating that following on-the-ground research in China, the institution believes Yangtze Memory Technologies is more likely to December go public this year, rather than in March mid-next year as previously projected based on CXMT's timeline. Yangtze Memory Technologies plans to raise approximately 33000000000 yuan CNY, exceeding CXMT's scale of approximately 29500000000 yuan, of which approximately 20800000000 yuan is intended for expanding mass production and constructing Phase III production lines to raise its share to 2027 in NAND.

Analyst Jukan noted that a large IPO would temporarily divert liquidity from existing technology stocks, and investors may sell holdings, including CXMT, to subscribe to the new offering. CXMT's current free float is only approximately 6.73%，2027; from the end of January, shares accounting for approximately 2.24%of total share capital will be released from lock-up. Based on the October 16 closing price, this is estimated at approximately 68500000000 yuan, or approximately 94000000000 yuan if it returns to its high, creating clear pressure on the free float.

Original link https://m.theblockbeats.info/flash/372432