Japan's Toshiba Corp said on Monday it planned to monetise its 40.2per cent stake in former flash memory chips unit Kioxia Holdings, stating its ...
Japan's Toshiba Corp said on Monday it planned to monetise its 40.2per cent stake in former flash memory chips unit Kioxia Holdings, stating its intentions of a potential stake sale for the first time.
FILE PHOTO: The logo of Toshiba Corp is seen behind cherry blossoms at the company's headquarters in Tokyo, Japan April 11, 2017. REUTERS/Toru Hanai/File photoTOKYO: Japan's Toshiba Corp said on Monday it planned to monetise its 40.2per cent stake in former flash memory chips unit Kioxia Holdings, stating its intentions of a potential stake sale for the first time.
In a statement, Toshiba also said it planned to return a majority of the net proceeds to shareholders, a step that some activist fund investors have been demanding.Toshiba plans to gradually unwind the Kioxia stake after the world's second-largest flash memory chip firm lists its shares in an IPO later this year, people familiar with the matter said on Saturday.
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