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Toshiba Memory to delay one of Japan’s biggest IPOs this year

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It had been reported that the listing was scheduled to happen in September this year, but could now be pushed back to November.

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Toshiba Memory is the world’s second-largest maker of NAND memory chips. (Reuters pic)

TOKYO:
US buyout firm Bain Capital is likely to delay a planned initial public offering of Toshiba Memory by around two months, a source said on Wednesday, pushing back until November what is likely to be one of Japan’s biggest listings this year.

Toshiba Memory is the world’s second-largest maker of NAND memory chips. A consortium led by Bain acquired the business for US$18 billion last year.

Reuters reported last month that Bain had picked Nomura and Mitsubishi UFJ to manage the IPO and that the listing could happen as early as September.

But a person familiar with the matter said on Wednesday it would likely be delayed until November.

A Bain representative could not be reached for comment.

A Toshiba Memory spokesman said that there had been no change to its plan to go public within three years since the acquisition and that the timing of the listing had not been decided.

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