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Kioxia submits listing application to the Tokyo Stock Exchange, potentially becoming the largest IPO in six years.

Kioxia, a leading flash memory giant, has submitted an application for listing on the Tokyo Stock Exchange. The company plans to go public in October, with an estimated market capitalization exceeding 1.5 trillion yen, making it the largest IPO in six years. The funds raised will be used to meet the growing demand for AI storage. Bain Capital and Toshiba are considering reducing their stakes. Kioxia has previously failed in two attempts to go public and has now abandoned plans to merge with Western Digital.

Flash memory: A type of data storage device that is faster and more durable than traditional hard drives.

IPO: Initial Public Offering, the first sale of stock by a company to the public.

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