Kioxia Holdings Corp. plans to debut on the Tokyo Stock Exchange in mid-December at a value of about ¥750 billion ($4.8 billion), fast-tracking the move to stay relevant in the competitive memory sector.

Kioxia Holdings plans to raise more than $740 million in its initial public offering and list in Tokyo on Dec. 18, seeking growth capital to meet rising demand for chips used in artificial intelligence and data centers.

Bain Capital-backed Kioxia Holdings Corp. is setting its indicative IPO price at ¥1,390 per share, the latest attempt to capitalize on Japan’s stock market renewal.

Kioxia Holdings Corp. said Friday it will list its shares on the Tokyo Stock Exchange's top-tier Prime Market on Dec. 18 in an initia

According to the prospectus released Friday, the IPO and secondary-offering prices will likely be set at 1,390 yen, for an estimated market capitalization of 750 billion yen ($4.85 billion). Kioxia will issue 21.56 million new shares, with plans to raise 27.7 billion yen after various expenses.

Formerly the semiconductor unit of Japanese engineering giant Toshiba, the company is the world's third-largest producer of NAND flash memory chips.

TOKYO (Reuters) - Bain-backed Kioxia will have a market value of about 750 billion yen ($4.84 billion) based on the indicative price for its initial public offering, with the chipmaker to receive listing approval from the Tokyo bourse on Friday, two sources said.

Japanese chipmaker Kioxia Holdings will list on the Tokyo Stock Exchange in mid-December after a series of postponements, Nikkei has learned. The company is expected to receive listing approval from the bourse on Friday.

Bain Capital-backed Kioxia is to raise 100 billion yen ($645.45 million) excluding overallotment in its initial public offering. A Bain-led consortium acquired the chipmaker from scandal-hit conglomerate Toshiba for 2 trillion yen in 2018.