Bain Capital drops plans to take Kioxia public in October over valuation issues, report says

2024-10-11 08:58:45

Asia Tech Wire (Oct 11) -- Bain Capital has abandoned plans to take Japanese memory chipmaker Kioxia public in October over IPO valuation issues, according to Reuters.

The latest report, citing people familiar with the matter, said investors pushed Bain Capital to halve its IPO valuation for Kioxia.

Global investors want a market value of about 800 billion yen for Kioxia, while Bain Capital is aiming for 1.5 trillion yen.

The wide divergence in IPO valuations led the U.S. private investment firm to abandon plans to make Kioxia public in October.

Bain Capital holds a 56% stake in Kioxia with South Korean chipmaker SK hynix, while Japanese electronics maker Toshiba holds about 41%.

Bain Capital Kioxia

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