Japanese chipmaker Kioxia is preparing a U.S. listing to attract prominent global investors. Voya Investment Management portfolio manager Sebastian Thomas stated that a U.S. debut could place the company in the global AI spotlight by significantly improving trading liquidity.
The NAND flash memory producer has seen its stock price surge over 450% this year. Strong demand from the artificial intelligence sector remains the primary driver for this growth.
Kioxia first announced plans to list American Depositary Shares (ADS) in May to broaden its investor base. The move aims to attract large overseas funds that are currently sidelined by liquidity constraints in the Tokyo market.