March 20, 2019 / 2:20 AM / a year ago

Toshiba Memory to delay IPO seen as one of Japan's biggest in 2019 -source

TOKYO, March 20 (Reuters) - U.S. buyout firm Bain Capital is likely to delay a planned initial public offering of Toshiba Memory by around two months, a source said on Wednesday, pushing back until November what is likely to be one of Japan's biggest listings this year.

Toshiba Memory is the world's second-largest maker of NAND memory chips. A consortium led by Bain acquired the business for $18 billion last year.

Reuters reported last month that Bain had picked Nomura and Mitsubishi UFJ to manage the IPO and that the listing could happen as early as September. But a person familiar with the matter said on Wednesday it would likely be delayed until November.

A Bain representative could not be reached for comment.

A Toshiba Memory spokesman said that there had been no change to its plan to go public within three years since the acquisition and that the timing of the listing had not been decided. (Reporting by Taro Fuse; Additional reporting by Junko Fujita; Writing by David Dolan Editing by Chang-Ran Kim)

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