Toshiba should sell stake in ex-chip unit at IPO, says HK activist fund in letter
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TOKYO (Reuters) - A Hong Kong-based activist investor in Toshiba Corp has asked the Japanese conglomerate to sell its entire stake in Kioxia Holdings when the flash memory chip firm is listed in an IPO that could raise up to $32 billion, according to a letter reviewed by Reuters.Argyle Street Management Ltd, a hedge fund with over $1.5 billion under management, sent the letter to CEO Nobuaki Kurumatani in late March urging the company to sell its 40% stake and distribute proceeds back to..