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Japan’s Kioxia Is Said to Focus on IPO in Next Few Months

  • Long-delayed market debut could take place as early as summer
  • Analysts say IPO could value Kioxia at more than $36 billion
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Photographer: Xinhua News Agency/Getty Images

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Japan’s Kioxia Holdings Corp. is focused on pursuing an initial public offering as soon as this summer, rather than engaging with potential foreign acquirers and navigating foreign regulatory approvals, according to four people familiar with the matter.

The maker of memory chips sees an IPO as the most promising route to realizing value for shareholders, including Toshiba Corp. and Bain Capital, said the people, asking not to be named because the deliberations are private. Their comments came after the Wall Street Journal reported Micron Technology Inc. and Western Digital Corp. are each exploring a potential deal for Kioxia.