Hitachi mulls hard-drive IPO

HITACHI is planning an initial public offering (IPO) of its hard-drive unit and could name underwriters in early September, several people familiar with the situation said.

Bankers are in discussions with Hitachi about an IPO of the world’s third-largest hard-drive maker, several sources said.

The stock float would be in the United States and could happen by year’s end, the sources said.

Goldman Sachs has unofficially been named one of the underwriters on the IPO, the sources said.

Although an IPO is the most likely scenario, Japan-based Hitachi is also considering a sale of all or part of the hard-drive unit, several sources said.

Hitachi said yesterday it has not made any decisions but continues to explore possibilities.