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 US$32 billion, according to a letter reviewed by Reuters.

FILE PHOTO: The logo of Toshiba Corp is seen behind cherry blossoms at the company's headquarters in Tokyo, Japan April 11, 2017. REUTERS/Toru Hanai/File Photo