Kioxia Holdings Corp. plans to debut on the Tokyo Stock Exchange in mid-December at a value of about ¥750 billion ($4.8 billion), fast-tracking the move to stay relevant in the competitive memory sector.

According to the prospectus released Friday, the IPO and secondary-offering prices will likely be set at 1,390 yen, for an estimated market capitalization of 750 billion yen ($4.85 billion). Kioxia will issue 21.56 million new shares, with plans to raise 27.7 billion yen after various expenses.

Formerly the semiconductor unit of Japanese engineering giant Toshiba, the company is the world's third-largest producer of NAND flash memory chips.

Bain Capital-backed Kioxia Holdings Corp. is setting its indicative IPO price at ¥1,390 per share, the latest attempt to capitalize on Japan’s stock market renewal.

Kioxia will  get listing approval from the Tokyo stock exchange tomorrow at a valuation of $4.84 billion, reports Reuters. The price for Kioxia has been

Bain Capital-backed Kioxia is to raise 100 billion yen ($645.45 million) excluding overallotment in its initial public offering. A Bain-led consortium acquired the chipmaker from scandal-hit conglomerate Toshiba for 2 trillion yen in 2018.