Kioxia Holdings plans to list American Depositary Shares in the United States to expand its global investor base. The Japanese chipmaker’s stock surged 456% this year, leading the Nikkei 225 index.
Kioxia first announced its preparations for the U.S. listing in May. Sebastian Thomas manages a $14 billion AI-focused fund at Voya Investment Management. Thomas identified stock liquidity as the primary barrier preventing large overseas funds from investing in the company.
He noted that a U.S. listing could mirror the liquidity gains seen by South Korea’s SK Hynix on the Nasdaq. The move provides Kioxia with greater flexibility to fund capacity expansion and meet rising AI-driven demand for memory chips.