Bain-Backed Chipmaker Kioxia Scraps an October IPO, Reuters Says
- Japanese chipmaker has fallen behind Samsung and SK Hynix
- Kioxia debut is expected to be Japan’s biggest this year
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Japanese memory chipmaker Kioxia Holdings Corp. has shelved its plan to debut its shares on the Tokyo Stock Exchange in October, Reuters said.
Kioxia, which is majority-owned by private equity firm Bain Capital, was preparing for an initial public offering in a bid to remain competitive. The IPO, which Bloomberg reported could raise about $500 million, was widely expected to be Japan’s biggest this year. Reuters did not specify whether Kioxia planned a debut at a later date.