Japan’s Kioxia Postpones Plans for IPO as Chip Stocks Slide

Japanese memory chipmaker Kioxia Holdings Corp. is pushing back plans for an initial public offering until later this year after a downturn in semiconductor stocks.

Kioxia, which is majority-owned by private equity firm Bain Capital, is now targeting no earlier than November or December instead of October, according to a person familiar with the matter, who asked not to be identified because the plans are private. The IPO, which Bloomberg reported could raise about $500 million, is widely expected to be Japan’s biggest this year.

“We are preparing for an IPO at the appropriate time,” a Kioxia spokesperson ...