Kioxia Plans IPO on Tokyo Stock Exchange Next October

According to Nikkei Asian Review, Kioxia Holdings Corporation plans October IPO in Japan on the Tokyo Stock Exchange to fill war chest for 5G era, to raise up to $3.6 billion, largest IPO for Japan this year.

The indicative IPO offering price of ¥3,960 a share would value Kioxia, the world’s second-biggest producer of flash memory chips behind Samsung, at about $20.1 billion.

As a result of the IPO, both Toshiba, formerly known as Toshiba Memory, and Bain Capital will sell portions of their respective Kioxia holdings.

The Bain-led consortium, which includes South Korean chipmaker SK Hynix Inc., acquired Kioxia for ϒ2 trillion in 2018.

Te manufacturer generated 22.8% of revenue from Apple Inc. in its April-June quarter and got substantial sales from Huawei Technologies.