Kioxia cancels October IPO due to market volatility and competitor stock price declines.

Kioxia, a Japanese memory chipmaker backed by Bain Capital, has canceled its planned initial public offering (IPO) for October due to market volatility. The company aimed for a valuation of ¥1.5 trillion ($10.39 billion), but declines in the stock prices of competitors like Micron Technology and Samsung Electronics complicated this goal. Kioxia plans to pursue an IPO in the future at a more favorable time.

September 24, 2024
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