Kioxia Prepares $10 Billion US ADR Listing Amid Expansion Plans
Japanese memory-chip maker Kioxia is considering listing its American depositary receipts (ADRs) on US markets, which could raise at least $10 billion. The company has reportedly spoken with Bank of America, Goldman Sachs, and JPMorgan Chase about an offering next year.
This move aims to broaden Kioxia's investor base beyond Japan and potentially qualify it for inclusion in a semiconductor-focused stock index. ADRs allow US investors to easily buy shares in non-US companies, often increasing trading activity and analyst coverage.
Kioxia has separately announced plans to offer ADRs in spring 2027, but the size, timing, and bank lineup may still change. A successful listing could trigger index-linked buying, which can drive up demand for the stock.