Yeestor Microelectronics, a China-based flash storage controller supplier, has applied to launch its IPO on the Sci-Tech Innovation Board (STAR) of the Shanghai Stock Exchange, according to market sources in China.
Yeestor plans to raise a total of CNY1.224 billion (US$39.9 million) through the IPO to finance the development of its enterprise and datacenter PCIe memory device controllers, industrial and automotive embedded memory controllers, as well as the company's R&D and working capital, the sources indicated.
Headquartered in Shenzhen, Yeestor was formed in 2017 as a result of the SiliconGo-Auspitek merger. In April 2020, Yeestor completed its takeover of EpoStar Electronics to obtain essential technology patents related to memory controller chips. The acquisition also allowed Yeestor to enhance its offerings for mobile and embedded memory devices, and SSDs, the sources said.
Yeestor is pinpointed as among the beneficiaries of China's growing homegrown memory sector involving chipmaker Yangtze Memory Technologies (YMTC) and module firms, such as Longsys Electronics, the sources noted.
Goke Microelectronics, Starblaze Technology and Sage Microelectronics (SageMicro) are three other major China-based suppliers of flash storage controllers.