Kioxia, the third-largest manufacturer of NAND flash memory chips, debuted on the Tokyo Stock Exchange on August 23, 2024, with shares rising about 10% to close at 1,601 yen after raising over 120 billion yen ($800 million) in its IPO. The offering initially included 71.8 million shares, later increased by 10.79 million through an overallotment option. Kioxia, previously Toshiba Memory, faced challenges in 2020 and again in 2023 with IPO attempts, largely due to market volatility. Currently, it seeks to meet the Tokyo Stock Exchange’s Prime market requirement of 35% share dispersion, as its market ratio is only 28.09%.
