{"id":138367,"date":"2024-12-18T10:23:49","date_gmt":"2024-12-18T03:23:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=138367"},"modified":"2024-12-18T10:23:49","modified_gmt":"2024-12-18T03:23:49","slug":"kioxia-shares-climb-slightly-on-debut-in-tokyo-after-800-million-ipo","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=138367","title":{"rendered":"Kioxia shares climb slightly on debut in Tokyo after $800 million IPO"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108076721\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A man walks out of the building where the headquarters of Kioxia, the world&#8217;s third largest manufacturer of NAND flash memory chips, is located in central Tokyo on August 23, 2024.<\/p>\n<p>Richard A. Brooks | Afp | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Kioxia initially offered 71.8 million shares, but later exercised an overallotment option to offer an additional 10.79 million shares, according to <a href=\"https:\/\/www.kioxia-holdings.com\/content\/dam\/kioxia-hd\/shared\/news\/2024\/asset\/20241209-1.pdf\" target=\"_blank\" rel=\"noopener\">a filing in Japanese on Monday<\/a>.<\/p>\n<p>The IPO consisted of Kioxia issuing new shares, as well as a sale of shares from major shareholders Bain Capital and Toshiba.<\/p>\n<p>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&#8217;s Prime market.<\/p>\n<p>Kioxia revealed that the ratio of shares in the market is only at 28.09%, below the <a href=\"https:\/\/www.jpx.co.jp\/english\/equities\/improvements\/market-structure\/b5b4pj0000049j6c-att\/Criteria_en.pdf\" target=\"_blank\" rel=\"noopener\">Prime market&#8217;s requirements of 35%.<\/a><\/p>\n<p>Kioxia, formerly known as Toshiba Memory, was the chip division of Toshiba, and was sold to <a href=\"https:\/\/www.cnbc.com\/2017\/09\/28\/toshiba-sells-chip-unit-to-bain-apple-group-for-18-billion.html\">a Bain-led consortium<\/a> in 2018 for $18 billion.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\"><a id=\"headline0\"\/>Third time&#8217;s the charm<\/h2>\n<div class=\"group\">\n<p>This is not Kioxia&#8217;s first crack at trying to list on public markets. Back in 2020, Kioxia <a href=\"https:\/\/www.kioxia-holdings.com\/en-jp\/news\/2020\/20200928-1.html\" target=\"_blank\" rel=\"noopener\">postponed plans for an IPO<\/a> on the grounds that &#8220;continued market volatility and ongoing concerns about a second wave of the pandemic&#8221; meant that it was not in the best interest of shareholders to proceed with a public listing, it said in a statement at the time.<\/p>\n<p><a href=\"https:\/\/www.reuters.com\/technology\/bain-backed-chipmaker-kioxia-scraps-october-ipo-plan-sources-say-2024-09-24\/\" target=\"_blank\" rel=\"noopener\">Reuters reported<\/a> in September that Bain scrapped its plan for an IPO in October. This was due to a sell off in Japanese stocks in August, which made the 1.5-trillion-yen valuation that Bain had been targeting &#8220;challenging,&#8221; according to the Reuters report.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/12\/18\/kioxia-shares-climb-slightly-on-debut-in-tokyo-after-800-million-ipo.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A man walks out of the building where the headquarters of Kioxia, the world&#8217;s third largest manufacturer of NAND flash memory chips, is located in central Tokyo on August 23, &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=138367\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-138367","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/138367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=138367"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/138367\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=138367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=138367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=138367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}