IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

SK Hynix Conference Call Today: Kioxia IPO in 2H & Plan to Sell 31% After IPO

Kioxia Solid in Latest Quarter - Time for an IPO?

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Kioxia Holdings  / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/kioxia" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia (6600 JP)</a> is the world’s second-largest player in the NAND flash memory market. Toshiba Memory Corporation (TMC) officially changed its name to Kioxia on 1 October 2019. TMC was spun off from <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a> and acquired by KK Pangea, a special purpose company formed by a consortium led by Bain Capital for JPY2 trillion ($18 billion).</p><div class="content-highlight"><p>At the indicative IPO price of JPY3,960, Kioxia will raise up to JPY378 billion ($3.6 billion) in Tokyo’s biggest stock market listing this year. The offer comprises of a primary raise of JPY85.4 billion ($0.8 billion). The secondary raise comprises of a sell-down by KK Pangea and Toshiba. The shares will list on the Tokyo Stock Exchange on 6 October. Overall, with the caveat that memory business is cyclical, we think that Kioxia’s fundamentals are attractive.</p></div>

Kioxia (6600 JP) is the world’s second-largest player in the NAND flash memory market. Toshiba Memory Corporation (TMC) officially changed its name to Kioxia on 1 October 2019. TMC was spun off from Toshiba Corp (6502 JP) and acquired by KK Pangea, a special purpose company formed by a consortium led by Bain Capital for JPY2 trillion ($18 billion).At the indicative IPO price of JPY3,960, Kioxia will raise up to JPY378 billion ($3.6 billion) in Tokyo’s biggest stock market listing this year. The offer comprises of a primary raise of JPY85.4 billion ($0.8 billion). The secondary raise comprises of a sell-down by KK Pangea and Toshiba. The shares will list on the Tokyo Stock Exchange on 6 October. Overall, with the caveat that memory business is cyclical, we think that Kioxia’s fundamentals are attractive.

키옥시아 IPO 개시: 단순한 유행이 아니다