Bain and Toshiba in tug-of-war over Kioxia IPO date

Japanese memory chip maker's near-term valuation outlook has dimmed

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Kioxia has struggled as its core NAND memory operations have not taken advantage of the AI boom. (Kioxia)

RYO MUKANO and AYA ONISHI, Nikkei staff writers

TOKYO -- The timing of memory chip maker Kioxia Holdings' Japanese stock market debut remains up in the air as major shareholders Bain Capital and Toshiba find themselves at odds over when the listing should go ahead.

Kioxia applied on Aug. 23 to list on the Tokyo Stock Exchange (TSE). The goal was to hold the initial public offering by the end of October with a targeted valuation of between 1.5 trillion yen and 2 trillion yen ($10 billion and $13.3 billion).

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