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Chipmaker Kioxia files for IPO; sources say it’s targeting December
Bain Capital-backed Kioxia filed for an IPO on Friday and sources familiar with the matter said the Japanese chipmaker was targeting December for the offering.
Bain scrapped plans for an IPO in October after investors pushed the U.S. buyout firm to almost halve the 1.5 trillion yen ($9.8 billion) valuation it was seeking, sources have previously said. The chipmaker expects to receive approval in late November and the indicative price for the shares will be disclosed at that time, said the sources who declined to be identified as the company has not made the information public. Kioxia, which competes with overseas rivals such as Samsung Electronics and SK Hynix, has been hammered by a downturn in the market for memory chips with the industry debating the durability of a recent recovery in prices.
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