TOKYO: Chip equipment maker Kokusai Electric has raised $724.4 million by pricing its shares at the top end of a scaled-back marketing range in Japan’s largest initial public offering in five years.
KKR Group-owned Kokusai set its IPO at 1,840 yen per share, a filing showed on Monday, valuing the company at 423.9 billion yen ($2.84 billion).
Kokusai, which manufactures machines that deposit thin films on silicon wafers, last week trimmed the upper end of indicative price range to 1,840 yen from 1,890 yen previously.
