Japanese semiconductor company Kioxia, which has been promoting the issuance of American Depositary Receipts (ADR) on the New York Stock Exchange (NYSE) to meet investor demand for its shares, is raising at least $10 billion (approximately 13.3 trillion won).
Bloomberg reported on the 14th (local time) that Kioxia, which has been in discussions with Bank of America, Goldman Sachs, JP Morgan Chase, etc., aiming for a listing on the New York Stock Exchange (NYSE) next year, is reviewing such measures.
ADR is a security that allows U.S. investors to trade shares of foreign companies without the companies being listed on the U.S. stock market.
It is known that after purchasing shares worth billions of dollars from Japan, the company is seeking to secure additional liquidity through a U.S. listing and will also explore inclusion in the Nasdaq semiconductor-related index.
However, the review is in its early stages, and details such as the scale of stock issuance and lead underwriters have not been decided.
Kioxia's review of ADR listing has been discussed since shortly after last June, when SK Hynix decided on its Nasdaq ADR entry schedule.
At that time, Yoshihiko Kawamura, Kioxia's Chief Financial Officer (CFO), announced at the annual shareholders' meeting that the company plans to enter the U.S. market after the current fiscal year ends at the end of March.
He predicted the target timing to be around April to June, the beginning of the next fiscal year, and said about this project: "Building a direct link with the United States is very meaningful. We are doing our best to make this a success."
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I heard SK is a major shareholder now. Do you think it had an influence?
▶ Original source: https://news.nate.com/view/20260915n08556?mid=n0304
