SK Hynix Investment Japan Kioxia Sets IPO Price... Market Cap Up to 7.6 Trillion Won

Japanese memory semiconductor company Kioxia (formerly Toshiba Memory) has tentatively set its initial public offering (IPO) price range at 1,390 to 1,520 yen per share (approximately 12,962 to 14,174 won), according to major foreign media reports on the 2nd.

Accordingly, Kioxia's expected market capitalization will be between 749 billion and 819 billion yen (approximately 69.845 trillion to 76.393 trillion won). Previously, the reference price set last month was 1,390 yen.

Reuters Yonhap News

Kioxia had previously withdrawn its IPO plan once in October. At that time, Bain Capital aimed for a corporate value of 1.5 trillion yen, but concerns arose that the company’s value after listing would fall short of the target amid a weak semiconductor stock market. Bain Capital had also postponed Kioxia’s listing attempt four years ago.

Kioxia was established in April 2017 as Toshiba’s semiconductor memory business became independent. A consortium including Bain Capital invested 56%, while Toshiba contributed 41%. In 2018, SK Hynix invested about 4 trillion won in the consortium.

Kioxia is scheduled to be listed on the Tokyo Stock Exchange on the 18th.

This content was produced with the assistance of AI translation services.