On June 18, information from the Chongqing Market Supervision Bureau revealed that a share acquisition agreement has been inked among Wuhan Optics Valley Semiconductor Industry Investment Co., Ltd., Wuhan Guangxin Qihang Investment Partnership (Limited Partnership), Yangtze Memory Technologies Holdings Co., Ltd., and XMC (formally known as Wuhan New Chip Integrated Circuits Manufacturing Co., Ltd.).
As per the agreement, Optics Valley Semiconductor Industry Investment, operating through its subsidiary Guangxin Qihang, is set to acquire a 39% equity stake in XMC that is currently held by Yangtze Memory Technologies Holdings.
Upon the completion of this transaction, Optics Valley Semiconductor Industry Investment, along with its affiliated entities, will collectively hold a 47.8846% stake in XMC, either directly or indirectly, thereby gaining exclusive control over the company.
Notably, XMC had proactively withdrawn its Initial Public Offering (IPO) application from the Science and Technology Innovation Board on May 19, effectively halting the listing review procedure.