Earlier today, Kioxia submitted an application to list on the Tokyo Stock Exchange, with plans to officially debut this Friday, according to reports from Nikkei. The company is setting ambitious targets, aiming for a market capitalization exceeding $10.3 billion and seeking to raise $500 million through this public offering.
Currently, Kioxia’s ownership structure is interesting, with Bain Capital and SK Hynix holding a combined 56%, while Toshiba retains a 41% stake. As the third largest producer of NAND flash memory globally, Kioxia plays a pivotal role in the semiconductor industry.
In 2018, a consortium led by Bain made headlines by acquiring Kioxia for $18 billion. More recently, in August 2022, Western Digital (WD) proposed a $20 billion buyout of Kioxia, highlighting the company's value and market position. Notably, WD has a joint venture with Kioxia for some production facilities in Japan, allowing both companies to share output evenly.
This impending IPO represents a significant milestone for Kioxia and indicates ongoing confidence in the semiconductor market as technologies continue to evolve.
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