In October the unit is to be floated on the Tokyo Stock Exchange and Toshiba will start selling its stake after that.
Half the proceeds of the sale will go to Toshiba’s shareholders.
The unit was sold for $18.7 billion in 2018 to a consortium led by Bain including Apple, Hynix, Dell, and Seagate.
Toshiba then bought its 40.2% stake for $3.27 billion.
Toshiba is still loss-making.
Last week Toshiba chairman Yoshimitsu Kobayashi resigned and will be replaced by Osamu Nagayama who is honorary chairman at Chugai Pharmaceutical.
Source: This news is taken from www.electronicsweekly.com
