Kioxia is exploring a U.S. ADR listing targeting no less than $10 billion, said people who asked not to be named because the talks are private. They said the company has been in talks with banks such as Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co., with a potential deal as soon as next year. The deliberations are preliminary, and both the size of the sale and the bank lineup could change.
People familiar with the discussions said a U.S. listing is aimed at boosting trading liquidity in America after Kioxia conducted multibillion-dollar share repurchases in Japan. Issuing ADRs could also enable Kioxia to gain inclusion in a semiconductor-focused stock index, the people added. Representatives for Kioxia, as well as for Goldman Sachs and JPMorgan, would not comment; Bank of America did not respond to a request for comment.
Chipmakers and other AI-linked players globally are chasing the wave of investor interest. Kioxia - an important provider of NAND storage - has previously stated it intends to list ADRs in the spring of 2027, though it has shared no additional specifics.
The timing comes as markets wobble on fears amid worries that progress in artificial intelligence could decelerate. After U.S. AI leaders discussed adding safeguards and assessing the impact of the most advanced models, Nasdaq 100 futures fell 1.8% and an ETF tracking major chip stocks slid 4.7% in early trading. In July, after missing expectations, Kioxia issued a subdued earnings outlook, announced a 3-for-1 stock split, and signed off on buybacks amounting to up to ¥800 billion, or $5.2 billion, aiming to expand its shareholder base and temper volatility. The stock is up almost 400% this year, putting the company's market value near $180 billion.
Cross border listings remind investors that diversification helps protect and grow long term savings. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.
A U.S. ADR listing would likely widen who can trade Kioxia in American hours and could even help it join a semiconductor-focused stock index, which matters if you own semiconductor or AI-themed funds. Bigger picture, even with nerves about the AI cycle, companies are still moving to raise cash while demand is hot. Representatives for Kioxia declined to comment; spokespeople for Goldman Sachs and JPMorgan likewise offered no comment, and Bank of America did not respond to a request for comment.
When companies expand beyond borders, steady planning keeps your financial goals on track. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.
