for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

Japan's memory chipmaker Kioxia sets 2,800-3,500 yen tentative IPO price range

TOKYO, Sept 17 (Reuters) - Kioxia Holdings Corp, the world’s second-largest maker of flash memory chips, said on Thursday it has set a tentative price range of 2,800 yen to 3,500 yen ($26.7 to $33.4) a share for an initial public offering (IPO) in Tokyo.

The range compared with the 3,960 yen indicative price Kioxia announced last month.

At the top of the range, the company would offer up to 334.3 billion yen ($3.19 billion) in shares and have a market value of 1.89 trillion yen ($18.04 billion).

Kioxia, formerly known as Toshiba Memory, plans to list on the Tokyo Stock Exchange on Oct. 6, according to a regulatory filing.

The listing would be Japan’s biggest IPO this year and allow a partial exit by U.S. private equity firm Bain Capital, which led a consortium that bought the former unit of Toshiba Corp in 2018. ($1 = 104.7700 yen) (Reporting by Takashi Umekawa and Makiko Yamazaki Editing by Chang-Ran Kim)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up