Kioxia's IPO Raises 120 Billion Yen

Bain Capital-backed chipmaker Kioxia has successfully raised 120 billion yen ($800 million) through its initial public offering (IPO), according to a securities filing on Monday. The company, a major manufacturer of memory chips, priced its shares at 1,455 yen each, valuing the company at 784 billion yen.

Kioxia had initially set a tentative price range of 1,390 to 1,520 yen per share. The IPO included the sale of shares by Bain Capital and Toshiba, as well as the issuance of new shares by Kioxia, which raised an additional 31 billion yen.

($1 = 150.0500 yen)