Japan's chipmaker Kioxia said to scrap IPO plan as Sino-US tensions rise

IPO

Kioxia Holdings Corp, the world’s second-largest memory chipmaker, will scrap plans for an initial public offering (IPO) as tensions between China and the United States have been rising, the Nikkei Business magazine reported on Sunday.

The reported decision comes after Kioxia earlier this month set a tentative price range for an IPO in Tokyo that put the market value lower than 2 trillion yen (14.86 billion pounds), the price that a Bain Capital-led group paid for the company two years ago.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter