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Kioxia postpones USD 16 bln IPO amid pandemic, Huawei woes

2020-09-28 11:09:00| Telecompaper Headlines

(Telecompaper) Kioxia, the Japanese memory-chip maker formerly known as Toshiba Memory, has postponed its initial public offering, originally planned for 6 October, citing continued market volatility and ongoing concerns about a second second wave of the coronavirus pandemic. The company said it will "continue to evaluate the appropriate timing for its offering" and that it is not "in a rush" but reports said the delay may be indefinite. The Wall Street Journal reported that the decision comes amid US export restrictions on Huawei, affecting Kioxia's business.

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