Asia
Bain-Backed Kioxia Plans Tokyo IPO at $4.8 Billion Valuation
- Market debut seen as key for chipmaker to keep up with Samsung
- NAND pioneer fell behind in tech after repeated IPO delays
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Kioxia Holdings Corp. plans to debut on the Tokyo Stock Exchange in mid-December at a value of about ¥750 billion ($4.8 billion), fast-tracking the move to stay relevant in the competitive memory sector.
The bourse is likely to approve the Bain-backed chipmaker’s initial public offering on Friday, a person familiar with the matter said. The indicative price of the offering, which was first reported by Reuters, may change depending on market demand, said the person, who asked not to be identified discussing matters that are private.