according to a filing published this Monday.
First reported by Reuters, this price range has an indicative price of $9,26 which was set for November month and managed to evaluate in the market the Japanese chipmaker company at about $4.9 billion to $5.45 billion.
According to Reuters, the Bain Capital chipmaker company abandoned its plans for a Kioxia IPO back in October, after various investors requested that the market value must be around $5.3 billion. But this market value and the target were not close in price, because the initial target was around $9,98 billion.
It’s important to mention that about four years ago, the Bain Capital buyout firm decided to postpone a previous Kioxia IPO plan. Now, the Kioxia IPO is using a new framework to accelerate the process, in order to grow with the technological gap between the company and the Samsung Electronics leader.
Also, the buyout firm is closely monitored for its efforts to list the chipmaker as a key test for all buyout firms in Japan due to the fact that a growing number of companies are choosing to go private. If Kioxia company succeeds in going public, will have more fundraising options in Japan’s capital industry, and also will increase its control over the company’s financial records.
Even more so, in 2018, a consortium led by Bain acquired the chipmaker from the Toshiba conglomerate for $13,3 trillion, in a period when Toshiba was facing various scandals and troubles. It seems that according to Bloomberg reports, Bain Capital company is controlling 56% of the company, Toshiba Corp. owns 41% while Hoya Corp, has just 3% of the Kioxia SSD and flash memory maker company.
The Kioxia SSD and flash memory company is due to debut on the Tokyo Stock Exchange and have a Kioxia stock on December 18, and Bain along with Toshiba are planning to sell into the initial Kioxia IPO.
It remains to be seen the price that Kioxia stock will have in the Tokyo Stock Exchange Market. Stay tuned for more!
.webp)
