Late Stage Mature Pre IPO Unicorns -

KKR plans to list Kokusai Electric in Tokyo’s biggest IPO in three years – Reuters

By Liz Kiesche,

U.S. private equity firm KKR (NYSE:KKR) may take Japanese chip equipment manufacturer Kokusai Electric public through an initial public in Tokyo as soon as early June, Reuters reported, citing three sources.

Though the size of the IPO isn’t yet clear, one source told Reuters that Kokusai Electric would likely list with a market value of ~JPY 700B ($5.67B), which would making it Tokyo’s biggest listing in over three years.

The Tokyo exchange is poised to approve the listing as soon as May, the sources told Reuters. KKR expects to sell part of its stake to domestic and overseas investors, they said.

The news comes a year after Applied Materials (AMAT) terminated its agreement to acquire Kokusai Electric after delays in obtaining Chinese regulatory approval for the $3.5B acquisition. AMAT had originally agreed to pay $2.2B for the company in 2019.

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