Toshiba Memory May Go Public on TSE in Autumn 2019
Tokyo, Oct. 24 (Jiji Press)--Toshiba Memory Corp., which was acquired by a consortium led by U.S. investment fund Bain Capital from Toshiba Corp. <6502> in June, is making preparations for its listing on the Tokyo Stock Exchange possibly in autumn 2019, it was learned Wednesday.
Toshiba Memory is mulling the move in order to secure fresh capital for a possible hike in its memory chip production, informed sources said.
Since the acquisition, the Tokyo-based company has been considering going public within three years.
According to the sources, the company started in summer this year preparations for its stock listing, including selection of a securities company to handle relevant work. The firm may conduct an initial public offering in autumn next year at the earliest, the sources said.
Toshiba Memory, which has a flagship memory plant in Yokkaichi, Mie Prefecture, central Japan, began the construction of a new factory in Kitakami in the northeastern prefecture of Iwate in July at a total investment of around one trillion yen. The amount of investment may be increased.
[Copyright The Jiji Press, Ltd.]