Kioxia Delays $10 Billion IPO Amid Market Uncertainty

Concerns over semiconductor market volatility and unmet valuation targets drive decision to postpone public offering.

Japanese chipmaker Kioxia, formerly Toshiba Memory, has delayed its planned October IPO due to unfavorable market conditions.
The company aimed to raise $500 million with a market capitalization of $10 billion but faced challenges meeting this valuation.
Market volatility and a decline in semiconductor stock prices, including competitors like Micron and Samsung, influenced the decision.
Kioxia's principal investor, Bain Capital, had hoped for a valuation of 1.5 trillion yen ($10.39 billion), which now seems unachievable.
Despite strong financials, Kioxia's market position and recent production cuts contributed to the postponement, marking another delay after a similar situation in 2020.