-- Kokusai Electric Corp. is set to go public on the Tokyo Stock Exchange Wednesday in Japan’s biggest initial public offering since 2018, marking a success for KKR & Co.’s buyout of the semiconductor-equipment company.Treasury 10-Year Yield Breaches 5% for First Time Since 2007The American private equity firm acquired the business from Hitachi Kokusai Electric Inc.
One indication of the original investment may be the strike price for options granted as incentives to management, which is ¥167, according to the IPO documents. That would make KKR’s return on the deal more than 10 times. More than 100 employees received options in the transaction. “The company plays a significant role in the chip-making process,” said Kazuyoshi Saito, senior analyst at Iwai Cosmo Securities Co. Kokusai provides its products to Intel Corp., according to the data compiled by Bloomberg.
Kokusai aims to invest in cutting-edge technology areas to expand its business, saying in its IPO prospectus that re-listing was a necessary option. 'Extremely bearish' chart formation signals the top 7 Big Tech stocks including Apple, Nvidia, and Tesla face elevated risk of a selloff
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