By Takashi Umekawa and Makiko Yamazaki
TOKYO (Reuters) – Kioxia Holdings Corp , the world’s second-largest maker of flash memory chips, on Monday shelved plans for what would have been Japan’s largest initial public offering (IPO) this year, as U.S-China tensions cloud the global chip market.
Kioxia, previously known as Toshiba Memory, had planned to list on the Tokyo Stock Exchange on Oct. 6, offering up to 334.3 billion yen ($3.2 billion) in shares. Shares in top shareholder Toshiba Corp , which had planned to sell an 8% stake, fell as much as 8.6% on the postponement news, before paring the losses to 3%.
The postponement highlights how disputes over trade and technology between Washington and Beijing have cast a shadow over the global chip industry and affected companies across the supply chain.
The memory chip market is bracing for the impact of tighter U.S. restrictions on Huawei Technologies Co