Kokusai Electric sets indicative IPO range of 1,830-1,840 yen per share -filing

TOKYO : Japanese chipmaking equipment maker Kokusai Electric set an indicative initial public offering (IPO) price range of 1,830-1,840 yen ($12.32-$12.39) per share, lower than the previous indicative price of 1,890 yen.

The lower range reflects factors including the view of institutional investors and the state of the stock market, Kokusai said in a regulatory filing on Tuesday.

Kokusai’s listing preparations come as investors debate the strength of demand in the chip industry, which is suffering from a slump in the market for electronics such as smartphones and personal computers.

($1 = 148.4900 yen)