Bain Capital-backed chipmaker Kioxia to go public soon

Bain Capital-backed chipmaker Kioxia has set a tentative price range for its initial public offering (IPO) at 1,390 to 1,520 yen per share ($9.22 to $10.09), according to people familiar with the matter. The price range gives the Japanese flash memory chip maker a market value of about 749 billion to 819 billion yen (36.20 billion to 39.583 billion yuan). Due to pressure from investors, Bain Capital had to reduce its valuation of Kioxia from 1.5 trillion yen to the current level. Kioxia's IPO plan was originally scheduled for October, but was forced to be canceled due to the above reasons.