Kioxia, formerly Toshiba Memory, the world's third-largest NAND flash memory chip maker, saw its shares jump on its first day of trading in Tokyo following a successful initial public offering (IPO).
Shares of Japan computer memory manufacturer Kioxia rose 2.69% on its debut in Tokyo after the company raised over just over 120 billion yen ($800 million) in its initial public offering. Shares were trading at 1,484 yen at 9:14 a.m. Tokyo time, slightly higher than the offer price of 1,455 yen per share, the midpoint of its IPO price band ranging from 1,390-1,520 yen. Kioxia initially offered 71.8 million shares, but later exercised an overallotment option to offer an additional 10.
79 million shares. The IPO consisted of Kioxia issuing new shares, as well as a sale of shares from major shareholders Bain Capital and Toshiba. Early on Wednesday, Reuters reported that Kioxia had requested its major shareholders to sell more shares so as to meet listing requirements on the Tokyo Stock Exchange's Prime market. Kioxia was formerly known as Toshiba Memory, and was sold to a Bain-led consortium in 2018 for $18 billion
Kioxia IPO Tokyo Stock Exchange Bain Capital Toshiba Memory
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