September 27, 2020 | technology | No Comments
The world’s second-largest maker of NAND flash memory chips, Kioxia is considering delaying Japan’s biggest initial public offering (IPO) as tensions between the United States and China ramp up.
Earlier this month, the company which spun out of Toshiba Corp (TOSBF) in 2018, set a tentative price range for an IPO in Tokyo to raise as much as $2.9bn (£2.3bn).
Toshiba has retained roughly 40% of Xioxia, with the rest held by a group of Japanese, US and South Korean investors.
The Japanese chipmaker was due to reveal its final pricing on Monday, instead Xioxia’s board is reportedly meeting on Monday to discuss its options, according to the Financial Times.
Kioxia had planned to list on the Tokyo Stock Exchange (JPXGY) on 6 October, at a valuation of more than $14bn. The company warned tighter