Kioxia Weighs $10B US ADR Listing in Spring 2027 to Ride AI Memory Demand

Bloomberg reports Kioxia is exploring a US ADR listing to raise at least $10B in spring 2027, working with Bank of America, Goldman Sachs and JPMorgan. The Tokyo-based memory maker wants US liquidity after billions of dollars in Japan share buybacks and eligibility for semiconductor-focused stock indices. A listing that size would be one of the largest AI-memory float events amid HBM demand from Nvidia and hyperscalers. Details, size and bank lineup remain preliminary.