Japan's Kioxia to seek listing as early as Dec after delay: paper

[TOKYO] Japan's Kioxia Holdings Corp is looking to list its shares on the Tokyo Stock Exchange as early as December, the Nikkan Kogyo newspaper reported on Tuesday, after it shelved those plans last week citing an uncertain market outlook.

The world's second-largest maker of flash memory chips, previously known as Toshiba Memory, will reapply for the listing soon, the paper said, without citing sources.

A Kioxia spokesman said the company wanted to "consider the best timing" for listing, when asked about the report.

Kioxia had originally planned to list on the Tokyo Stock Exchange on Oct 6, offering up to 334.3 billion yen (S$4.35 billion) in what would have been Japan's biggest initial public offering (IPO) this year.

The memory chip market is bracing for the impact of tighter US restrictions on Huawei Technologies Co Ltd that came into force on Sept 15.

The curbs ban global suppliers from selling chips made using US technology to the Chinese telecoms giant without a special licence, and Kioxia has warned they could trigger memory chip oversupply and lower prices.

REUTERS