Kioxia to Launch $4.8 Billion IPO on Tokyo Stock Exchange

The Bain Capital-backed chipmaker, formerly Toshiba's semiconductor unit, will begin trading on December 18 with a valuation of ¥750 billion.

Kioxia, the world's third-largest NAND flash memory producer, is set to go public next month on the Tokyo Stock Exchange.
The initial public offering will raise ¥100 billion ($646 million) excluding overallotment, according to regulatory filings.
Kioxia's market valuation is estimated at ¥750 billion ($4.8 billion), significantly lower than the ¥1.5 trillion valuation sought in a previously scrapped IPO plan.
The company was acquired by Bain Capital in 2018 for ¥2 trillion after being spun off from Toshiba amid the conglomerate's financial troubles.
Both Bain Capital and Toshiba are expected to sell shares in the IPO, with the listing date confirmed as December 18, 2024.