Bain-backed chipmaker Kioxia muted in market debut

Reuters12-18

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)

((ankur.banerjee@thomsonreuters.com;; Mobile - +65 8121 3925; Follow on X (formerly Twitter): @AnkurBanerjee17;))

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