Bain-backed reminiscence chipmaker Kioxia has scrapped its plan for an preliminary public providing (IPO) in October, three sources aware of the matter stated.
Bain had been concentrating on a market worth of ¥1.5 trillion ($10.39 billion) for Kioxia however the latest sell-off in shares of its listed friends has made that pricing difficult, two of the sources stated.
Shares in Micron Expertise and Samsung Electronics are down roughly a 3rd from latest highs.
Kioxia had been concentrating on an IPO in late October, it was reported beforehand.
Bain declined to remark. Kioxia stated it’s making ready to listing on the acceptable time.