TOKYO — Japan’s Kioxia Holdings debuted on the Tokyo Stock Exchange on Wednesday at 1,440 yen, 0.3% below the IPO price. The price later rose to 1,504 yen, 4% above the offering price.
The initial public offering marks a new chapter for the partnership between Toshiba, which previously owned Kioxia, and a consortium of investors that includes buyout company Bain Capital and SK Hynix of South Korea. Kioxia was carved out from Toshiba in 2018 in an $18 billion, Bain Capital-led acquisition, the largest private equity deal in Asia at the time.
