Exclusive-Bain- backed chipmaker Kioxia scraps October IPO strategy, resources claim

By Miho Uranaka and Sam Nussey

TOKYO (Reuters) -Bain- backed memory chipmaker Kioxia has actually junked its prepare for a going public (IPO) in October, 3 resources aware of the issue stated.

Bain had actually been targeting a market price of 1.5 trillion yen ($ 10.39 billion) for Kioxia yet the current sell-off in shares of its noted peers has actually made that rates tough, 2 of the resources stated.

Shares in Micron Technology and Samsung Electronics are down about a 3rd from current highs.

Kioxia had actually been targeting an IPO in late October, Reuters has actually reported formerly.

Bain decreased to comment. Kioxia stated it is preparing to listing at the proper time.

($ 1 = 144.3200 yen)

(Reporting by Miho Uranaka and Sam Nussey;Editing by Chang-Ran Kim and Miral Fahmy)