KKR Chip Play to win big in Japan
KKR Chip Play to win big in Japan
Private equity giant KKR won in Japan, and with a token price rebound likely imminent, their timing seems impeccable. Investors should consider joining the journey.
Semiconductor equipment maker Kokusai Electric will begin trading in Tokyo on Wednesday after raising about $720 million in an IPO last week. This makes this transaction the largest IPO in Japan in almost five years, according to Dealogic. KKR owned the company, which was formerly controlled by Hitachi– since going private in 2018. Kokusai is valued at $2.8 billion at its IPO price, which could net KKR a return of more than 60% in Japanese yen, excluding leverage. Kokusai sold its video and communications systems businesses following the takeover of KKR.
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