Japanese chipmaker Kioxia to debut on TSE in mid-December

Nov 22 (NHK) - Japanese semiconductor maker Kioxia Holdings is expected to be listed on the Tokyo Stock Exchange next month after years of postponement.

Sources say the company decided to list its shares after determining that the market will start improving next year thanks to demand for data centers.

Kioxia is likely to gain approval for the listing from the TSE as early as Friday, and the initial public offering is scheduled for mid-December, the sources added. The company aims to achieve market capitalization of 750 billion yen, or around 4.8 billion dollars.

The company plans to use funds raised through the IPO to build cutting-edge memory chip production facilities.

Kioxia was a unit of Japanese conglomerate Toshiba. It was spun off in 2018 as part of Toshiba's business turnaround plan.

The stock exchange approved Kioxia's listing four years ago, but the IPO was put off because of uncertainty stemming from an intensifying US-China trade dispute.

An IPO was then set for October but again postponed amid a slump in semiconductor-related shares.

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