By Miho Uranaka and Sam Nussey

TOKYO, Nov 21 (Reuters) - Bain-backed Kioxia will have a market value of about 750 billion yen ($4.84 billion) based on the indicative price for its initial public offering, with the chipmaker to receive listing approval from the Tokyo bourse on Friday, two sources said.

The market value, which Reuters is reporting for the first time, could change depending on the final price in the IPO.

Kioxia, Bain and the Tokyo Stock Exchange declined to comment. The sources declined to be named as the information is not public.

Bain Capital scrapped plans for an IPO of Kioxia in October after investors pushed the buyout firm to almost halve the 1.5 trillion yen valuation it was seeking, Reuters has reported.

Kioxia is the first to choose to operate under new rules in Japan that allow companies to file a registration statement and communicate with investors before receiving listing approval.

Kioxia, formerly Toshiba Memory, is targeting a December IPO, Reuters has reported. Bain postponed a previous IPO plan for Kioxia four years ago.

Going public would offer Kioxia fundraising options in a capital intensive industry but increase scrutiny on the company's financials.

A Bain-led consortium acquired the chipmaker from scandal-hit conglomerate Toshiba for 2 trillion yen in 2018.

Shareholders including Bain will sell shares in the IPO, the sources said.

Morgan Stanley, Nomura and BofA Securities are joint global coordinators for the IPO.

($1 = 155.0400 yen)

(Reporting by Miho Uranaka and Sam Nussey; Additional reporting by Noriyuki Hirata; Editing by Sonali Paul)

((sam.nussey@tr.com;))