Kioxia Delays Plan for IPO, Sending Toshiba Shares Lower
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Kioxia Holdings Corp., the memory chipmaker spun out of Toshiba Corp. in 2018, said it will postpone its plans for an initial public offering on the Tokyo Stock Exchange. Toshiba shares tumbled.
Kioxia had been scheduled to set its final pricing on Monday before a listing next month. Kioxia estimated earlier this month its IPO would raise as much as 306.7 billion yen ($2.9 billion).