Adds background on IPO, company response
By Miho Uranaka and Sam Nussey
TOKYO, Dec 2 (Reuters) - Bain Capital-backed chipmaker Kioxia 285A.T has set a tentative price range of 1,390 to 1,520 yen ($9.22 to $10.09) per share for its initial public offering, two people familiar with the matter said.
They spoke on condition of anonymity ahead of Kioxia's regulatory filing expected on Monday.
The price range compares with an indicative price of 1,390 yen set in November and gives the Japanese maker of flash memory chips a market value of around 749 billion yen to 819 billion yen.
Kioxia declined to comment. Bain did not immediately respond to a request for comment.
Bain 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.
The buyout firm 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.
Kioxia is due to debut on the Tokyo Stock Exchange on Dec. 18.
($1 = 150.6800 yen)
(Reporting by Miho Uranaka and Sam NusseyEditing by Chang-Ran Kim and Stephen Coates)
((sam.nussey@tr.com))
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