Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Initial Thoughts on the Yangtze Memory Technologies Co (YMTC) IPO

SK Hynix's 40 Trillion Won Share Buyback and Cancellation - Trading Implications

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SK Square: An Updated NAV Analysis + A Key Beneficiary of Higher Shareholder Returns by SK Hynix

Douglas Research Advisory

Equity Capital Markets

Yangtze Memory Technologies / Equity Capital Markets

<ul>
<li>Yangtze Memory Technologies (YMTC CH) is getting ready to complete its IPO on the Shanghai Stock Exchange in late 2026/early 2027, aiming to raise about $4.9 billion.</li>
<li>Implied valuation of YMTC is up to 330 billion yuan. However, there have been reports about implied valuation of YMTC closer to the 1 trillion yuan ($149 billion).</li>
<li>Based on CXMT's P/S of 19.6x and using YMTC's estimated annual sales of 188.2 billion yuan in 2026, this suggests market cap of 3.7 trillion yuan ($548 billion) for YMTC. </li>
</ul>


Yangtze Memory Technologies (YMTC CH) is getting ready to complete its IPO on the Shanghai Stock Exchange in late 2026/early 2027, aiming to raise about $4.9 billion.
Implied valuation of YMTC is up to 330 billion yuan. However, there have been reports about implied valuation of YMTC closer to the 1 trillion yuan ($149 billion).
Based on CXMT's P/S of 19.6x and using YMTC's estimated annual sales of 188.2 billion yuan in 2026, this suggests market cap of 3.7 trillion yuan ($548 billion) for YMTC. 


Yangtze Memory Technologies Co (YMTC) IPO Preview