Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. The company pioneers cutting-edge memory solutions and services that enrich people's lives and expand society's horizons.
Kioxia Holdings, a company owned by Bain Capital, made its debut on the Tokyo Stock Exchange on Wednesday, opening at 1,440 yen, slightly below its IPO price by 0.3%. However, the stock price later increased to 1,504 yen, reflecting a 4% rise above the initial offering.
This IPO signifies a significant milestone in the ongoing partnership between Toshiba, the former owner of Kioxia, and a consortium of investors that includes Bain Capital and South Korea's SK Hynix. Kioxia was established as a separate entity from Toshiba in 2018, following an $18 billion acquisition led by Bain Capital, which was the largest private equity transaction in Asia at that time.
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