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Japan's Kioxia plans October IPO to fill war chest for 5G era

Former Toshiba Memory to ramp up investment with eye on Samsung

Kioxia plans to go public by October to procure funds for 5G-related investment.

TOKYO -- Flash memory maker Kioxia Holdings looks to go public by October to raise funds for equipment investment, anticipating fresh demand for memory chips as next-generation 5G mobile services begin to take off. 

Kioxia, formerly Toshiba Memory, estimates its market valuation to reach 3.5 trillion yen ($31.8 billion) in what is expected to be Japan's biggest initial public offering this year. It will be the largest listing in terms of market capitalization since mobile giant SoftBank Corp. went public in December 2018.

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