Memory chipmaker Kioxia calls off October IPO plans in Japan - report [Seeking Alpha]
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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Source: Seeking Alpha
Last month, reportedly, Bain was in discussions with investment banks to list the Japanese company, which makes NAND flash memory. Kioxia was expected to raise about $500M, and garner a market capitalization of over 1.5T yen ($10.3B) via the IPO, which was expected in October. It would have marked the largest IPO in Japan this year. However, the recent sell-off in shares of its listed peers has made the pricing challenging, the report added . Shares of Samsung Electronics ( OTCPK:SSNLF ), SK Hynix and Micron Technology ( MU ), have fallen about a third from recent highs. Kioxia noted that it is preparing to list at the appropriate time, the report noted. Bain, which led a consortium to acquire Kioxia from Toshiba for $18B in 2018, has thought about listing Kioxia in the past as well. The Tokyo-based company was also in discussions for a transaction to integrate with Western Digital's ( WDC ) memory business, intending to form an entity that could challenge NAND memory market
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WDC
Earnings
- 7/31/24 - Beat
WDC
Sec Filings
- 9/27/24 - Form 4
- 9/26/24 - Form 144
- 9/23/24 - Form 4
- WDC's page on the SEC website