Kioxia Holdings Corp is weighing a US listing via American depositary receipts
(ADR) to raise at least $10bn, people familiar with the matter said. The
Tokyo-based memory-chip maker has held talks with BofA, Goldman Sachs and JP
Morgan about a possible IPO next year; an ADR would increase US liquidity after
several-billion-dollar buybacks in Japan and could make Kioxia eligible for
inclusion in a semiconductor-focused index. Plans are preliminary and deal size
and lead banks may change, the people said.
