Kioxia has finally gone public.
The stock price rose by 3% on its first day, reaching a valuation of 807 billion yen (52.5 billion USD).
The IPO issue price was 1,455 yen per share, which is in the middle of the guidance range, raising 120 billion yen.
The stock briefly rose to 1,504 yen.
Kioxia’s IPO journey has been challenging. The company’s name is a combination of the Japanese word “kioku” (memory) and the Greek word “axia” (value).
The acquisition of Kioxia by the Bain Capital consortium was seen as a milestone private equity deal in Japan, with the company considered a valuable asset at the time.
Due to ongoing uncertainty, global tensions led to volatility in the chip market, and Bain Capital delayed the IPO plan two years later.
After investors urged Bain Capital to cut the company’s valuation by nearly half, Bain Capital abandoned Kioxia’s IPO plan in October.
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