Kioxia said to consider raising $10 billion in U.S. listing
Kioxia is planning the share sale at a time when concerns about the pace of artificial intelligence development are escalating.
Kioxia is considering raising at least $10 billion by listing American depositary receipts, people familiar with the matter said, potentially joining other artificial intelligence-related companies seeking to tap strong investor demand.Kioxia has been speaking with lenders including Bank of America, Goldman Sachs Group and JPMorgan Chase on an offering that may take place next year, the people said, asking not to be identified because the matter is private. The Tokyo-based memory-storage maker is seeking to gain more liquidity in the U.S. with the listing after it repurchased billions of dollars’ worth of shares in Japan, the people said.Selling ADRs may also allow Kioxia to join a semiconductor-focused stock index, they said. Considerations are preliminary, and details such as the size of the share sale and the bank lineup may change, the people said.
Source: Japan Times
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