STJ advises KIOXIA of Japan on the largest Semiconductor IPO of 2024

2024

Transaction Highlights

$5.2bn IPO of Kioxia: the world’s largest manufacturer of NAND Memory on the Tokyo Stock Exchange’s Prime Market
Shareholders: Bain Capital and Toshiba
Largest Global Semiconductor IPO of 2024
Largest Japanese IPO of 2024
Priced at ¥1455, Up from the indicative price of ¥1390
Day one trading Closed up 10% at JPY1601
First use of S-1 Method enabling finely judged pricing at each stage, continuing STJ’s pioneering application of international methods to Japan’s Capital Markets
Stand out successful offer compared to other recent Sponsor IPOs
$800m raised of which 40% to High Quality Global Institutional investors, balance to heavily oversubscribed retail offer
Full coverage of the Book by Long Term Investors and high overall book cover
Strong AI tailwinds boosting all areas of Kioxia’s business
High conversion of Roadshow Attendees to the Book and hence to Shareholders
STJ’s 15th IPO in the Japan market occurring on its 10 year anniversary
STJ’s 5th IPO for Bain Capital
Confirms STJ as the Dominant Capital Markets Advisor in Japan