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

Kioxia, formerly known as Toshiba Memory, had planned to list on the Tokyo Stock Exchange in October. (Toshiba Memory)
Kioxia, formerly known as Toshiba Memory, had planned to list on the Tokyo Stock Exchange in October. (Toshiba Memory)
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27 Sep 2020 02:09:52 GMT9
27 Sep 2020 02:09:52 GMT9

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.

Kioxia, formerly known as Toshiba Memory, had planned to list on the Tokyo Stock Exchange on Oct. 6.

Toshiba said in a statement the company was not in a position to comment on Kioxia’s IPO. 

Reuters

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