Kioxia targets spring 2027 US listing after 900% stock surge

Kioxia Holdings, the Japanese flash memory maker that has become the most valuable company on the Tokyo Stock Exchange this year, announced plans to offer US depositary shares in the spring of 2027, targeting an April-to-June launch window in what would mark one of the most anticipated semiconductor listings of the year.

Shareholder Meeting Reveals Timeline

CFO Yoshihiko Kawamura disclosed the timeline at Kioxia's annual general shareholders' meeting on Thursday, June 25, stating that the company is targeting its next fiscal year's second quarter — the period ending in June 2027 — for the US market entry. The Tokyo-based company, which first signaled its intention to list American depositary shares on a US exchange in May, also said it is actively considering a domestic stock split to broaden access for retail investors.tradingkey+5

Kioxia shares rose as much as 15% on Thursday, surpassing ¥100,000 per share, as the announcement coincided with strong results from Micron Technology ↗ 5.31%. The stock has gained nearly 900% this year, propelled by surging demand for NAND flash memory used in AI data centers. On June 12, Kioxia's market capitalization overtook Toyota Motor to become the largest listed company in Japan, just a year and a half after its December 2024 IPO on the Tokyo Stock Exchange.investing+2

Following SK Hynix's Lead

The announcement comes one day after SK Hynix, the world's second-largest memory chip producer, filed with the US Securities and Exchange Commission to raise approximately $29 billion through an ADR listing on the Nasdaq, with trading tentatively set to begin on July 10. SK Hynix plans to issue up to 17.79 million new shares, with proceeds earmarked for chip manufacturing facilities and equipment purchases.cnbc+1

The two memory chip makers are seeking to tap the world's largest capital market as investor appetite for AI-exposed semiconductor stocks shows no sign of abating. Kioxia has not yet finalized which US exchange it will list on, the size of its offering, or the precise timeline, noting that the plan remains subject to regulatory approval in both the United States and Japan.japantimes+1

Details Still Pending

Kawamura described the US offering as a key step in establishing a direct link with the world's largest capital market, according to Bloomberg. The specific exchange, offering size, and final timeline have yet to be determined, and the company has left open the possibility of adjusting its plans depending on market conditions.bloomberg+2