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Toshiba spinoff Kioxia set for October IPO in Japan's biggest of year

Memory maker's market cap expected to top $19bn

Kioxia, the world's second-largest maker for NAND flash memory, turned in a $1.6 billion loss in the previous fiscal year.

TOKYO -- Flash memory maker Kioxia Holdings will list on the Tokyo Stock Exchange as soon as October with a market capitalization projected at more than 2 trillion yen ($18.9 billion), making for the nation's biggest initial public offering of 2020.

The Tokyo Stock Exchange is expected to greenlight Kioxia's listing soon.

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