Kioxia’s market value set at $4.9 billion in IPO

TOKYO (Reuters) -Bain Capital-backed Kioxia’s market value is seen around 750 billion yen ($4.85 billion) in its initial public offering, a regulatory filing showed on Friday.

The IPO will have a deal value of about 100 billion yen ($645.45 million) excluding overallotment.

Bain and Toshiba (OTC:TOSYY) will sell shares in the IPO. Separately, Kioxia will issue new shares, raising 27.7 billion yen.

Kioxia set an indicative price of 1,390 yen for both the secondary offering and new shares, the filing showed.

A Bain-led consortium acquired the chipmaker from scandal-hit conglomerate Toshiba for 2 trillion yen in 2018.

Bain scrapped plans for an IPO of Kioxia in October after investors pushed the buyout firm to almost halve the 1.5 trillion yen valuation it was seeking, Reuters has reported.

The buyout firm also postponed a plan for a Kioxia IPO four years ago.

Kioxia is due to list on the Tokyo Stock Exchange on Dec. 18.

($1 = 154.7300 yen)