Kioxia Holdings Corp, the world's second-largest flash memory chipmaker, said on Monday it would postpone plans for an initial public offering (IPO) amid uncertainty in the global chip market stemming from U.S-China tensions.
"While we received significant interest from many investors, the lead underwriters and Kioxia do not believe it is in the best interest of current or prospective shareholders to proceed with the IPO at this time of continued market volatility and ongoing concerns about a second wave of the pandemic," Kioxia CEO and President Nobuo Hayasaka said in a statement.
"As a company, we make disciplined decisions that are in the best interest of all our stakeholders and we will revisit an IPO at an appropriate time. We are not in a rush," he said.
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