Kioxia Shares Rise in Tokyo Stock Exchange Debut Following $800 Million IPO

The Bain-backed memory chipmaker, formerly Toshiba Memory, achieves a modest market debut after years of delays and challenges.

Kioxia Holdings, the world's third-largest NAND flash memory chipmaker, raised 120 billion yen ($800 million) in its IPO, pricing shares at 1,455 yen each.
The company's stock rose slightly on its first trading day, closing at 1,493 yen, valuing the firm at approximately 807 billion yen ($5.3 billion).
Kioxia's IPO involved issuing new shares and selling shares held by major stakeholders Bain Capital and Toshiba, with an overallotment option exercised to meet demand.
The listing follows years of delays, including a postponed IPO in 2020 and challenges in meeting Tokyo Stock Exchange's Prime market requirements for public share ratios.
Kioxia was acquired by a Bain-led consortium in 2018 for $18 billion after Toshiba sold the division to address financial troubles from its nuclear business.