Chipmaker Kioxia, backed by Bain Capital, has established a tentative price range of 1,390 to 1,520 yen ($9.22 to $10.09) per share for its upcoming initial public offering, according to two individuals with knowledge of the matter. This pricing positions the Japanese flash memory manufacturer with a market valuation between 749 billion and 819 billion yen. Kioxia’s regulatory filing is expected on Monday, though the company declined to comment on the development.
The proposed range closely aligns with an indicative price of 1,390 yen set in November, reflecting ongoing adjustments in the company’s IPO plans. Bain Capital has yet to issue a response. The IPO marks a renewed attempt after Bain previously scrapped plans for a public listing in October. At that time, investor feedback forced the buyout firm to reduce its sought-after valuation of 1.5 trillion yen by nearly half.
Kioxia’s history with IPOs has been turbulent. A prior attempt to go public was postponed four years ago. The chipmaker was acquired by a Bain-led consortium from Toshiba for 2 trillion yen in 2018, following Toshiba’s financial scandal.
Listing on the Tokyo Stock Exchange, scheduled for December 18, offers Kioxia a route to secure capital in the resource-intensive semiconductor sector. However, the move will also expose the company’s financials to greater scrutiny.
Featured image courtesy of The Japan Times
Follow us for more tech news updates.