From Investing.com: 2024-11-08 02:50:52

Bain Capital-backed Kioxia filed for an IPO, aiming for a December listing after scrapping previous plans due to valuation concerns. The chipmaker is the first to test new rules allowing pre-listing investor interest checks in Japan. Market volatility and global chip sector reassessment may impact Kioxia’s IPO success.

Kioxia, formerly Toshiba Memory, faces challenges amid a volatile chip market. A Bain-led consortium bought the company from Toshiba six years ago. The chipmaker plans to expand capacity for AI chips amid a recent 32% rise in operating profit in the July-September quarter. Morgan Stanley, Nomura, and BofA Securities are joint global coordinators for the IPO.

Kioxia’s IPO filings indicate a target listing between December and June 2025. The chipmaker expects approval from the Tokyo Stock Exchange in late November, with the indicative share price disclosed then. Kioxia will end a 1 billion yen annual consulting fee to Bain upon listing, owing the buyout firm an additional 3.5 billion yen.



Read more at Investing.com: Kioxia files IPO registration statement; targeting December, sources say By Reuters