Kokusai Electric plans $860 million IPO on Tokyo Stock Exchange

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Kokusai Electric plans $860 million IPO on Tokyo Stock Exchange
Credit: © Reuters.

Kokusai Electric, a Japanese firm specializing in semiconductor production equipment, is set to launch an initial public offering (IPO) on the Tokyo Stock Exchange on October 25, 2023. The IPO is expected to value approximately $860 million, as the company seeks to strengthen its market position.

The majority owner of Kokusai Electric, managed by KKR, is planning to sell 58.8 million shares of the company. The proposed selling price per share has been set at 1,890 yen ($12.74), with the final offering price to be confirmed on October 16.

As per the company's statement on Thursday, Kokusai Electric does not intend to issue new shares in the immediate future. However, depending upon market demand, an additional tranche of 8.8 million shares may be offered. This could potentially increase the total number of shares available for sale to as high as 67.7 million, representing a value of Y127.95 billion.

Upon listing, the total number of outstanding shares for Kokusai Electric is projected to be around 230.4 million, according to information provided by the Tokyo Stock Exchange.

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