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US-China tensions

Japanese chipmaker Kioxia delays IPO amid US-China tensions

World's No. 2 NAND memory-chip producer braces for impact from Huawei sanctions

Kioxia Holdings, Toshiba's former memory business, will postpone plans for an initial public offering.   © Reuters

TOKYO -- Former Toshiba memory unit Kioxia Holdings, the world's second-largest maker of NAND flash memory chips, behind Samsung Electronics, will postpone plans for an initial public offering, the company announced on Monday.

"While we received significant interest from many investors, the lead underwriters and Kioxia do not believe it is in the best interest of current or prospective shareholders to proceed with the IPO at this time of continued market volatility and ongoing concerns about a second wave of the pandemic," Kioxia CEO and President Nobuo Hayasaka said in a statement.

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