Japan's chipmaker Kioxia to scrap IPO plan as Sino-US tensions rise: Nikkei Business

📆 9/27/2020 9:14 AM
📰 BusinessTimes

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[TOKYO] Kioxia Holdings, 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. Read more at The Business Times.

[TOKYO] Kioxia Holdings, the world's second-largest memory chipmaker, will scrap plans for an initial public offering as tensions between China and the United States have been rising, theThe 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 two trillion yen , the price that a Bain Capital-led group paid for the company two years ago.

The memory chip market is bracing for an impact from tighter US restrictions on Huawei Technologies that came into force this month.

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