The Tokyo Stock Exchange said Tuesday it has given chip maker Elpida Memory Inc. and government-affiliated oil exploration company Inpex Corp. the go-ahead to debut on the nation’s largest bourse in mid-November.

The sections on which the stocks will be listed are to be decided after their public offering prices are set, the TSE said.

Elpida is slated to be listed Nov. 15, with its public offering price set to be decided Nov. 4. Inpex will be listed Nov. 17, and its public offering price will be set Nov. 8, the bourse said.

Elpida, a joint venture established in December 1999 between NEC Corp. and Hitachi Ltd., is the sole Japanese supplier of dynamic random access memory semiconductors. DRAM chips temporarily store data in personal computers, mobile phones and digital appliances such as DVD recorders.

In line with the listing, the company will issue 29.15 million shares, bringing the total number of outstanding issues to 89.28 million at the time of its listing, according to the TSE.

Elpida said the listing is intended to procure funds mainly for capital investment in research and development of state-of-the-art DRAM technology. For the fiscal year ended March 31, Elpida posted a consolidated net loss of 26.87 billion yen and a pretax loss of 25.46 billion yen on revenue of 100.44 billion yen.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.