Bain-Backed Chipmaker Kioxia Scraps an October IPO, Reuters Says

Japanese memory chipmaker Kioxia Holdings Corp. has shelved its plan to debut its shares on the Tokyo Stock Exchange in October, Reuters said.

Kioxia, which is majority-owned by private equity firm Bain Capital, was preparing for an initial public offering in a bid to remain competitive. The IPO, which Bloomberg reported could raise about $500 million, was widely expected to be Japan’s biggest this year. Reuters did not specify whether Kioxia planned a debut at a later date.

“We are preparing for an IPO at the appropriate time,” a Kioxia spokesperson said Tuesday, declining to comment further. A ...