Bain-backed Kioxia to raise $646 mln in IPO (updated)

Hoya

22/11/2024 07:06

(Adds background, details of shareholders from paragraph 2)
       TOKYO, Nov 22 (Reuters) - Bain Capital-backed Kioxia is
to raise 100 billion yen ($645.45 million) excluding
overallotment in its initial public offering.
    A Bain-led consortium acquired the chipmaker from
scandal-hit conglomerate Toshiba for 2 trillion yen in 2018.
        Bain scrapped plans for an IPO of Kioxia in October
after investors pushed the buyout firm to almost halve the 1.5
trillion yen valuation it was seeking, Reuters has reported.
    Bain and Toshiba will sell shares in the IPO.

($1 = 154.9300 yen)

 (Reporting by Sam Nussey; Editing by Christopher Cushing)
 ((sam.nussey@tr.com;))