Kioxia Holdings, formerly known as Toshiba Memory, is considering raising $10 billion through a US American depositary receipt listing. [Kioxia website]
Kioxia Holdings, formerly known as Toshiba Memory, is considering raising $10 billion through a US American depositary receipt listing. [Kioxia website]

Japanese chipmaker Kioxia Holdings, formerly known as Toshiba Memory, is considering raising at least $10 billion through a US American depositary receipt listing.

Bloomberg reported Monday (local time) that Kioxia is in talks with lenders — including Bank of America, Goldman Sachs Group and JPMorgan Chase — for an ADR listing the company expects to pursue next year. People familiar with the matter said the listing could qualify Kioxia for inclusion in semiconductor-focused indexes. The discussions are still at an early stage, and the banks involved could change.

Kioxia, a key supplier of NAND storage chips, has previously signaled its intention to launch an ADR offering in the spring of next year. The company's share price has surged nearly 400 percent this year on the back of soaring semiconductor demand, pushing its market capitalization to $180 billion. After earnings fell short of expectations in July, Kioxia recently announced a three-for-one stock split and a share buyback program of up to 800 billion yen ($5.21 billion) to broaden its shareholder base and reduce volatility.


kate01@heraldcorp.com