Japanese chipmaker Kioxia Holdings has set its initial public offering price at 1,455 yen (A$14.94), valuing the company at 784 billion yen (A$8.1 billion), the company said on Monday.
The Bain Capital-backed company is scheduled to list on the Tokyo Stock Exchange on December 18, under the ticker 285A.T.
Kioxia said it had raised 120 billion yen after shares were oversubscribed and priced in the middle of its marketed range of 1,390 to 1,520 yen per share.
The float will see Bain Capital and Toshiba both sell its shares, and the chipmaker will separately issue new shares, raising 31 billion yen, the company revealed in the filing.
Reuters reported in September that Bain Capital had scrapped plans for an IPO of Kioxia after investors pushed the buyout firm to almost halve the 1.5 trillion yen valuation it was seeking.
This came following the buyout firm postponing previous IPO plans for Kioxia four years ago.
But changes to Japan’s IPO application process in October 2023 to shorten procedural timelines, using the “S-1 Method” meant Kioxia could expedite the listing process.
Kioxia was acquired in 2018 by a Bain-led consortium from embattled conglomerate Toshiba for 2 trillion yen.