Kioxia Considers $10 Billion US Listing Amid Semiconductor Sector Growth
Kioxia Holdings, a Japanese chipmaker, is considering listing American depositary receipts (ADRs) on the US market to raise at least $10 billion. According to Bloomberg News, people familiar with the matter say the company has been speaking with lenders, including Bank of America, Goldman Sachs, and JPMorgan, about an offering that may take place next year.
The Tokyo-based company is looking to increase liquidity in the US after repurchasing billions of dollars worth of shares in Japan. Selling ADRs could also allow Kioxia to join a semiconductor-focused stock index.
The considerations for selling ADRs are preliminary, and details such as the size of the share sale and the bank lineup may change. The Japanese chipmaker said in May that it was preparing to list ADRs to broaden its investor base.