October 24, 2018 / 11:41 AM / 25 days ago

Toshiba Memory to go public as soon as next autumn: Kyodo

TOKYO (Reuters) - Toshiba Memory Corp, the world’s No. 2 producer of NAND flash memory chips, will go public as soon as the autumn of next year, Kyodo News reported on Wednesday.

Toshiba Corp sold Toshiba Memory in June to a consortium led by Bain Capital LP, which also included Apple Inc, South Korean chipmaker SK Hynix, Dell Technologies and Seagate Technology.

When asked about the Kyodo News report, a spokesman from Toshiba Memory said there is no change to its plans to go public in the next two to three years and that it has not made a decision on when specifically it will launch its initial public offering.

The sale of the chip unit helped save Toshiba Corp from years of financial crisis brought about by accounting scandals and billions of dollars in cost-overruns at its U.S. nuclear unit Westinghouse.

Reporting by Yoshiyasu Shida, writing by Stanley White; Editing by Vyas Mohan

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