Kioxia Submits Listing Application to Tokyo Stock Exchange

TapTechNews August 23rd news, according to Nikkei Asia, the NAND flash memory and solid-state drive giant Kioxia submitted an application for listing to the Tokyo Stock Exchange today, aiming to go public and trade in October this year.

The Japanese media estimates that Kioxia's market value will exceed 1.5 trillion yen (TapTechNews note: currently about 73.365 billion yuan) after listing, and is expected to become the largest IPO on the Tokyo Stock Exchange since the listing of SoftBank Group's domestic telecommunications department in 2018 (scale of 7.18 trillion yen).

Kioxia's listing proceeds will be used to meet the surging demand for memory chips due to the AI boom. And both of Kioxia's two major shareholders, Bain Capital and former parent company Toshiba, plan to reduce their stakes in Kioxia in stages after the IPO.

Since the spin-off from Toshiba, Kioxia has been actively seeking listing to raise funds:

This enterprise once obtained the permission to go public on October 6, 2020, but shelved the IPO plan at the last moment; Kioxia then planned to go public in 2021, but also failed to successfully complete the IPO plan.