(Bloomberg) — Japanese memory maker Kioxia Holdings Corp. has set a tentative price range for its initial public offering that’s in line with its earlier indication, according to Reuters report.
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The price range was set at ¥1,390 ($9.23) to ¥1,520, the report said, citing two people familiar with the matter. That compares with the indicative price of ¥1,390 per share.
The IPO is set to be among the largest this year in Japan after the $2.3 billion debut of Tokyo Metro Co. in October, underscoring heightened appetite for new listings in the country. Morgan Stanley, Nomura Holdings Inc. and Bank of America Corp. are the joint global coordinators of deal. The offer price will be decided on Dec. 9.
Kioxia is the world’s No. 3 maker of NAND relies on one type of memory, making it more vulnerable to market downturns than rivals Samsung Electronics Co. and SK Hynix Inc.
Since scrapping a plan to go public in October 2020, a prolonged slump in the price of NAND has depressed Kioxia’s ability to invest and expand its offerings to keep up.
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