U.S. private equity firm Bain Capital has picked Nomura and Mitsubishi UFJ Morgan Stanley to manage an initial public offering of Japan’s Toshiba Memory, a deal that could happen as early as September, people familiar with the matter said.
The listing of the world’s second-largest maker of NAND flash memory chips, which a Bain-led consortium bought for $18 billion last year, could be Japan’s biggest IPO this year. It would also mark a swift exit by Bain – the firm had previously flagged it was looking for an IPO within three years.
