Bain Capital-backed Kioxia filed for an initial public offering (IPO) of shares last Friday, November 8th.
The media, citing insiders, released information according to which the mentioned, a Japanese-based chip manufacturer, intends to hold an offering next month.
IPO registration is a new attempt by the company to become public. The media, citing insiders, report that in October Bain decided to abandon the relevant plans. This decision is due to the fact that the mentioned company specializing in investment activity was forced to almost halve the 1.5 trillion yen ($9.8 billion) valuation it was seeking. It is also known that in this case, investors have become a kind of impact factor.
Kioxia is the first firm that has decided to operate under the new rules in Japan. In this case, it implies rules that allow companies to communicate with potential investors during the IPO before receiving approval for listing on the Tokyo Stock Exchange.
The chip manufacturer expects to receive approval at the end of the current month. At that time, the indicative price for the shares will be disclosed. This was reported by the media, referring to insiders who used the right of anonymity, since in this case information is implied that does not belong to the public category.
Kioxia’s filings indicate that the company aims to conduct the IPO sometime from December through June.
The chip manufacturer pays Bain an annual business consulting fee of 1 billion yen which will cease with the listing, when the maker of microcircuits will owe an additional 3.5 billion yen.
As we have reported earlier, FinTech Klar Aims for IPO.
