What happened
Kioxia Holdings is considering raising at least $10 billion through the issuance of American Depositary Receipts (ADRs), according to people familiar with the matter cited in a report.
The company has been in talks with banks including Bank of America, Goldman Sachs and JPMorgan about a potential offering that could take place next year, the report said.
Why it matters
If confirmed, the move would mark a significant shift toward US capital markets for the Japanese chipmaker, though the report does not specify how the proceeds would be used.
The involvement of major US banks suggests preparations are at an early but serious stage, based on the reported talks.
Key facts
Kioxia Holdings is reportedly considering an ADR issuance to raise at least $10 billion.
The company has held talks with Bank of America, Goldman Sachs and JPMorgan.
The offering could take place next year, according to the report.
What to watch next
Whether Kioxia or the named banks confirm the plans, and whether a formal filing or timetable emerges.
Any further details on the size, structure or timing of a potential US listing.