According to the Nikkei Asia, NAND flash manufacturer Kioxia (formerly Toshiba Storage) will be listed on the Tokyo Stock Exchange as early as October. Its market value is expected to exceed 2 trillion yen ($18.9 billion), making it Japan's largest IPO in 2020.
According to reports in June, Toshiba holds approximately 40% of Kioxia, with the remaining shares being held by a consortium of Japanese and South Korean investors led by Bain Capital. As part of Kioxia’s listing plan, Toshiba and Bain Capital will sell some of their shares.
The report pointed out that the Tokyo Stock Exchange is expected to approve Kioxia's listing application soon.
It is worth mentioning that some foreign investors in Toshiba Group have always hoped to stabilize their financial status by selling Kioxia shares. In addition, Toshiba President and Chief Executive Officer Nobuaki Kurumatani also said that Toshiba Group has no intention of managing the memory business.