Its initial public offering has been touted as the start of a comeback for a company born out of Toshiba, which invented the component in the 1980s and helped spearhead the Japanese economic miracle.
Kioxia Holdings was supposed to be an irresistible debutant in a hot Japanese market, heralding the rise of a homegrown chipmaker with big backers and a storied pedigree. It may get a cooler reception than anticipated.
The pioneer in NAND flash memory — chips that store information in smartphones and data centre servers — is listing Wednesday after years of complex and wide-ranging negotiations that involved Bain Capital, SK, Western Digital and the Japanese government.
