9/27, 11:06 AM (Source: TeleTrader)
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Kioxia to delay IPO due to US-China tech row - report

Japanese computer memory producer Kioxia Holdings Corporation's plans to launch an initial public offering (IPO) will be rescheduled for a later date amid rising hostilities in the tech sector between China and the United States, the Nikkei Asian Review reported on Sunday, citing multiple insiders with knowledge of the situation.

The firm, reputedly the second-largest memory chipmaker globally, will attempt to organize the IPO at the end of 2020 or at the beginning of next year. Kioxia was spun off from the Toshiba Corporation in 2018 and Toshiba still holds an approximately 40% stake in Kioxia. A consortium led by US-based private investment firm Bain Capital LP reportedly owns 56.2% of the company.

It was previously expected that the trading of Kioxia's shares on the Tokyo Stock Exchange begins in the second week of October, with the chipmaker's market valuation hitting 2.13 trillion yen ($20 billion).

Breaking the News / MS