Bloomberg: "Japan's Kioxia Pursues IPO Instead of Selling Stake"

[Asia Economy Reporter Yujin Cho] Kioxia, a Japanese semiconductor company formerly known as Toshiba Memory, is reportedly planning an initial public offering (IPO) this summer, according to Bloomberg, citing four sources on the 1st (local time).

The sources stated that the IPO plan is the most likely option being considered for value realization by major shareholders including Toshiba, Bain Capital, and SK Hynix.

Kioxia refrained from direct comments on the report but responded that they are "continuing to seek an appropriate timing for the IPO."

This news came shortly after The Wall Street Journal (WSJ) reported that U.S. semiconductor companies Micron and Western Digital are exploring acquiring stakes in Kioxia.

The sources said that while Bain Capital might be considering alternatives to the IPO, Kioxia is currently not engaged in any negotiations for selling shares.

They added that Kioxia attempted to list on the Tokyo Stock Exchange last year but the listing was canceled due to external factors just before the IPO.

According to Ace Research, Kioxia's corporate value is estimated at over $36 billion. The recent surge in the IPO market, fueled by the listings of technology companies such as Coupang and DoorDash, is expected to create a favorable environment for Kioxia's fundraising.

Kioxia produces NAND flash memory semiconductors used in smartphones and computer servers. Toshiba sold it in 2018 for $18 billion to a Korea-U.S.-Japan consortium including SK Hynix and Bain Capital due to management difficulties.

Toshiba is currently considering selling most of its shares, but the Japanese government opposes the sale to foreign companies. Toshiba currently holds about 40% of the shares.

This content was produced with the assistance of AI translation services.