Kioxia to Raise $646mln in IPO Backed by Bain Capital
Deal News | Nov 22, 2024 | Zawya
Bain Capital-backed Kioxia, a semiconductor company initially acquired from Toshiba, is set to raise approximately $645.45 million through an initial public offering (IPO), excluding overallotment. The acquisition of Kioxia by a Bain-led consortium in 2018 for 2 trillion yen followed Toshiba's scandals. Despite the previous withdrawal of IPO plans in October, when investors pressured Bain to reduce its valuation goal significantly, Kioxia is proceeding with the IPO, in which both Bain and Toshiba will be selling shares.
Sectors
- Semiconductors
- Private Equity
- Technology
Geography
- Japan – Kioxia is based in Tokyo, and the IPO is occurring in the Japanese market.
- United States – Bain Capital, a US-based private equity firm, plays a significant role in the transaction.
Industry
- Semiconductors – Kioxia operates within the semiconductor industry as a chipmaker.
- Private Equity – Bain Capital, a private equity firm, is backing Kioxia's IPO.
- Technology – Kioxia's products and services are rooted in technological expertise, contributing to advancements in storage solutions.
Financials
- 100 billion yen ($645.45 million) – The amount Kioxia is set to raise through its IPO, excluding overallotment.
- 2 trillion yen – The acquisition price paid by the Bain-led consortium to acquire Kioxia from Toshiba in 2018.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kioxia | Target | Company | A semiconductor company specializing in memory chips, previously part of Toshiba. |
| Bain Capital | Bidding Companybuyer | Company | A private equity firm that led the consortium acquiring Kioxia in 2018. |
| Toshiba | Selling Company | Company | Originally owned Kioxia and is now involved in the IPO share sale. |