Kokusai Electric’s technology and manufacturing center in Toyama, Japan.
Photo: Soichiro Koriyama/Bloomberg NewsPrivate-equity giant KKR has scored a win in Japan, and with a chip price rebound probably around the corner, their timing looks impeccable.
Semiconductor equipment maker Kokusai Electric will start trading Wednesday in Tokyo after raising around $720 million in an initial public offering last week.
Kokusai is valued at $2.8 billion at its IPO price, potentially netting KKR a return of more than 60% in Japanese yen terms, excluding leverage.
Kokusai unloaded its video and communications systems business after KKR’s takeover.
Persons:
Soichiro Koriyama
Organizations:
Bloomberg, Private, KKR, Semiconductor, Kokusai, Dealogic, Hitachi —
Locations:
Toyama, Japan, Tokyo