That’s still a fraction of the US$18 billion ($24.31 billion) that a Bain Capital-led consortium forked over in 2018 to acquire it. Kioxia’s shares are trading at JPY1,627, compared with its IPO price of JPY1,455.
Memory-chip maker Kioxia Holdings soared 12% in its debut on the Tokyo Stock Exchange on Wednesday, underscoring strong investor demand for new shares in Japan.
After dropping at the start of the day, the company extended gains in afternoon trading, rising far above its initial public offering price, valuing the firm at about JPY877 billion ($7.72 billion).
