Kioxia Holdings Corporation (Kioxia), Japan’s leading manufacturer in computer memory solutions, completed its approximately ¥120.4 billion (approximately $783 million) initial public offering, assuming the exercise of the over-allotment option in full.
Kioxia’s shares were priced at ¥1,455 per share, valuing the company at approximately ¥863.0 billion (approximately $5.6 billion), and listed on the Prime Market of the Tokyo Stock Exchange. The global offering consisted of a registered public offering in Japan and an international offering outside Japan in reliance on Rule 144A and Regulation S. S&C represented Toshiba Corporation, as selling shareholder, in the international offering.
Kioxia designs, develops and manufactures NAND flash, memory, controller, firmware and software technologies. Kioxia was initially spun off from Toshiba Corporation’s memory business in 2017 and was renamed from Toshiba Memory Corporation in 2019.
The S&C team consisted of Keiji Hatano, Nirav Mehta and Eric Ressler.