Kioxia Holdings Corp. said Monday it will delay what would have been Japan's largest initial public offering on the Tokyo Stock Exchange this year amid heightened U.S.-China tensions that have hurt the outlook for the semiconductor industry.
Kioxia, formerly known as Toshiba Memory Holdings Co., said the decision was made after taking into consideration market volatility and the spread of the novel coronavirus, adding it will reconsider "the appropriate timing" for going public.
Kioxia had been scheduled to set its final pricing on Monday before a listing next month. Kioxia estimated earlier this month its IPO would raise as much as ¥306.7 billion.