Kioxia to Go Public on TSE in Early Oct.

Economy

Tokyo, Aug. 25 (Jiji Press)--Major Japanese chipmaker Kioxia Holdings Corp. is expected to go public on the Tokyo Stock Exchange in early October, with its market capitalization seen reaching about 3 trillion yen, it was learned Tuesday.

The company, formerly known as Toshiba Memory Holdings Corp., is owned about 40 pct by Japanese machinery and electronics giant Toshiba Corp. <6502>. It had been Toshiba's semiconductor division.

Kioxia has already filed for its listing to the TSE. The exchange is expected to give its approval within this month, informed sources said.

This will be the largest initial public offering in Japan in terms of market capitalization since the stock listing of mobile phone carrier SoftBank Corp. <9434> in 2018.

Toshiba's chip business had been the mainline operations for the company. But it was sold to a consortium led by a U.S. investment fund in 2018, after Toshiba fell into financial trouble due to huge losses from its nuclear power plant business in the United States. Toshiba Memory Holdings was renamed Kioxia in 2019.

[Copyright The Jiji Press, Ltd.]

Jiji Press