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Sources say that Kioxia, previously owned by Toshiba, aims to secure a minimum of $500 million and be valued at over 1.5 trillion yen ($10 billion). The even may occur as soon as October.
Kioxia ranks third globally in memory chip manufacturing, after Samsung and SK Group of South Korea. In 2018, Bain Capital acquired a 56% share of the company, with a total business valuation of $18 billion.
Bain Capital intended to take the company public in 2020, but the coronavirus pandemic and US-China tensions prevented this, according to the FT. The company then thought about merging with US-based Western Digital, but negotiations did not reach a clear resolution.
Kioxia achieved a historic net profit of 70 billion yen ($479 million) in the April-June period.
source: ft.com
Kioxia ranks third globally in memory chip manufacturing, after Samsung and SK Group of South Korea. In 2018, Bain Capital acquired a 56% share of the company, with a total business valuation of $18 billion.
Bain Capital intended to take the company public in 2020, but the coronavirus pandemic and US-China tensions prevented this, according to the FT. The company then thought about merging with US-based Western Digital, but negotiations did not reach a clear resolution.
Kioxia achieved a historic net profit of 70 billion yen ($479 million) in the April-June period.
source: ft.com
