Kioxia Considers $10 Billion ADR Listing in US

Kioxia Holdings, a Japanese chipmaker, is considering raising at least $10 billion through an American depositary receipt (ADR) listing in the US. According to Bloomberg News, the company has been speaking with lenders, including Bank of America, Goldman Sachs, and JPMorgan, about the offering which may take place next year.

Kioxia is seeking to increase liquidity in the US after repurchasing billions of dollars worth of shares in Japan. The listing could also allow the Tokyo-based company to join a semiconductor-focused stock index. This move is part of a broader trend among Asian tech firms and semiconductor companies looking to expand their investor base in the US.