Deals

Japan’s Kokusai Electric Sets IPO Range Below Initial Guidance

KKR is set to raise $728 million through the share sale
IPO is still set to be the largest in Japan since 2018

Kokusai Electric Corp.'s technology and manufacturing center in Toyama, Japan
Photographer: Soichiro Koriyama/Bloomberg

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By Filipe Pacheco

October 10, 2023 at 2:08 AM UTC

This article is for subscribers only.

KKR & Co. is set to raise up to ¥108 billion ($728 million) through the sale of shares in Japanese chip-equipment maker Kokusai Electric Corp., which set a price range for its initial public offering that was below its earlier guidance.

Kokusai’s IPO price range was set at ¥1,830-1,840 per share, according to a filing with Japan’s Finance Ministry on Tuesday, below last month’s indicative price of ¥1,890. KKR is selling 58.8 million shares in the company.