Kioxia is planning to raise at least $10 billion through the issuance of American Depositary Receipts (ADR). The Japanese chipmaker is currently in preliminary discussions with Bank of America, Goldman Sachs, and JPMorgan Chase regarding a potential deal, which could take place between 2025 and 2026.
The company's shares on the Tokyo Stock Exchange have surged by nearly 400% since the beginning of the year, bringing its market capitalization to $180 billion. This growth follows a 3:1 stock split and a share buyback program valued at up to ¥800 billion, equivalent to $5.2 billion.
The move to list in the United States is intended to provide access to specialized semiconductor stock indices and attract institutional investors. While Kioxia previously targeted a spring 2027 launch for the ADRs, current reports suggest the timeline may be accelerated.
The semiconductor sector continues to see significant activity, with SK hynix recently raising $26.5 billion during its US market entry. Despite high interest, market participants remain sensitive to regulatory discussions surrounding artificial intelligence safety measures.
