Kioxia Holdings, a Japanese semiconductor manufacturer, debuted on the Tokyo Stock Exchange’s Prime Market on Wednesday.

The stock closing its first trading day at 1,601 yen (US$10.35) with a US$ 5.6 billion valuation.

This IPO, Japan’s second-largest for 2024, aims to raise around US$190 million to boost memory chip production.

Kioxia became independent in 2018 as part of the restructuring of Toshiba, its former parent company.

Recent Kioxia developments