TOKYO (Reuters) - The Tokyo Stock Exchange is set to approve an October listing of Kioxia, the world’s second-largest flash memory chip firm, as early as Thursday, the Nikkei Business magazine reported on Tuesday.
Kioxia, a former unit of Toshiba Corp 6502.T, could have a market value of over 3 trillion yen ($28.2 billion), making it the largest listing in Japan this year, the report said.
The listing is planned for Oct 6, the magazine said.
A representative from Kioxia was not immediately available for comment. A spokesman for the Tokyo Stock Exchange said the report did not come from the bourse.
A consortium led by U.S. private equity firm Bain Capital and including South Korean chipmaker SK Hynix Inc 000660.KS acquired Kioxia, formerly known as Toshiba Memory, for $18 billion in 2018.
Bain was initially planning to list Kioxia last year, but pushed it back because of deteriorating market conditions, a source with knowledge of the matter has said.
Toshiba, which reinvested to take a 40.2% stake in Kioxia, said it plans to sell down the stake and will return a majority of the net proceeds to shareholders.
($1 = 106.3300 yen)
Reporting by Rocky Swift, Makiko Yamazaki and Junko Fujita; Editing by David Goodman and Barbara Lewis
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