Kokusai Electric Soars 28% After Japan’s Biggest IPO Since 2018
- Shareholder KKR & Co. raised ¥108 billion in equity offering
- IPO marks the largest offering in Tokyo since SoftBank Corp.
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Japanese chip-equipment maker Kokusai Electric Corp. jumped in Tokyo on Wednesday after the largest initial public offering in the country since 2018.
Shares ended 28% higher at ¥2,350, compared with the IPO price of ¥1,840. Kokusai, which supplies chipmaking gear to industry names including Intel Corp., spun out of Hitachi Kokusai Electric Inc. after American private equity firm KKR & Co. bought the company in a tender offer in 2018.