Japan’s Kokusai Electric to list shares on Tokyo Stock Exchange in October – Nikkei
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:Japan’s Kokusai Electric will list its shares on the Tokyo Stock Exchange as soon as October, the Nikkei business daily reported on Tuesday.
The valuation for the chipmaking device manufacturer, owned by U.S. private equity firm KKR, is projected to exceed 400 billion yen ($2.71 billion), according to the report.
The initial public offering (IPO) would make Kokusai Electric the biggest company to list in Tokyo since SoftBank Group Corp listed its telecom unit with a market value of 7.2 trillion yen in late 2018.
KKR declined to comment on the matter.
The IPO comes at a time when global demand for chip equipment has surged as semiconductors are being used in everything from artificial intelligence and self-driving cars to other new technologies.
According to Nikkei, the Tokyo Stock Exchange is expected to approve the listing of the company “soon”.
Kokusai Electric’s listing will be among the largest ever in Japan for a spun-off company, the Nikkei said.
($1 = 147.6300 yen)
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