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Japanese chip maker Kioxia calls off massive IPO

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A Japanese semiconductor maker called off what was to have been one of this year’s biggest stock offerings, after earlier saying that U.S. export restrictions on China’s Huawei Technologies Co. were hurting its business.

Kioxia Holdings Corp., owned by a Bain Capital-led consortium, had planned to list its shares on the Tokyo Stock Exchange on Oct. 6 at a price that would give the company a valuation of around $16 billion. It already had reduced the planned listing price and warned about the Huawei problem.

Kioxia said Monday it was postponing the initial public offering indefinitely, providing one of the biggest concrete examples of how the…



Source marketwatch.com

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