Bain Capital sets sights on $500 mln Kioxia IPO – Bloomberg report

Investing.com — Bain Capital Specialty Finance Inc (NYSE:) is moving forward with plans to launch an initial public offering (IPO) for Kioxia Holdings Corp., aiming to raise around $500 million, as per a Bloomberg report. 

The private equity firm is working with investment banks to prepare for the listing of the Japanese NAND flash memory business, which could potentially launch as early as the coming weeks, the report said.

The reported that Kioxia has filed for an October IPO, with an anticipated valuation exceeding 1.5 trillion yen ($10.3 billion). If successful, Kioxia’s IPO would be the largest in Japan since Kokusai Electric Corp.’s $1.5 billion listing last October.

Bain, which acquired Kioxia from Toshiba (OTC:) Corp. in 2018, has previously considered listing the chipmaker. 

This renewed attempt to sell shares in Kioxia coincides with a surge in domestic semiconductor listings and follows the collapse of merger talks with Western Digital Corp (NASDAQ:). last year, the report added.