Kioxia Holdings, a chipmaker affiliated with Bain Capital, is anticipated to have a valuation of about 750 billion yen (US$4.8 billion) for its forthcoming IPO, according to sources.

The Tokyo Stock Exchange is expected to approve the listing this Friday.

Kioxia, formerly known as Toshiba Memory, plans to leverage the public listing to gain additional fundraising avenues in the capital-intensive semiconductor industry.