Bain-backed chipmaker Kioxia muted in market debut

KIOXIA Holdings

18/12/2024 24:23

SINGAPORE, Dec 18 (Reuters) - Shares of Kioxia  285A.T 
rose 3% in their market debut on Wednesday, valuing the
Bain-backed chipmaker at 807 billion yen  ($5.25 billion). 
    Kioxia, a major manufacturer of memory chips, raised 120
billion yen after pricing its IPO in the middle of the
indicative range at 1,455 yen per share. On Wednesday, it traded
as high as 1,504 yen in early trading. 
    Kioxia, formerly known as Toshiba Memory, was bought for 2
trillion yen in 2018 by a Bain-led consortium from Toshiba after
a long and contentious battle. Toshiba put the business up for
sale after plunging into crisis due to cost overruns at its
nuclear business.
 ($1 = 153.6800 yen)

 (Reporting by Ankur Banerjee in Singapore, Sam Nussey in Tokyo;
Editing by Himani Sarkar)
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