Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Kioxia & Tokyo Metro: Japan's Largest IPOs Since 2018 Expected This October

Kioxia IPO Early Re-Look - Better Placed This Time Around

SK Square: Updated NAV Valuation Post Recent Share Price Decline

Understanding Potential Issues Within SK Group from Hynix's Kioxia CB Conversion

Tokyo Metro IPO Early Look - Could Raise Around US$2bn While Still Recovering from COVID

Douglas Research Advisory

Equity Capital Markets

Kioxia Holdings  / Equity Capital Markets

<ul>
<li>Kioxia is getting ready to complete its IPO in Japan as soon as in October. Kioxia's valuation is expected to exceed JPY 1.5 trillion (about USD 10.3 billion).</li>
<li>SK Hynix's stake in Kioxia (through Bain led consortium) is 19%. SK Hynix's stake in Kioxia would rise to 34% if the CBs are converted into equity. </li>
<li>The IPO of Kioxia has mixed implications for SK Hynix which is a major shareholder. However, the IPO of Kioxia has a more direct negative impact on Samsung Electronics.</li>
</ul>


Kioxia is getting ready to complete its IPO in Japan as soon as in October. Kioxia's valuation is expected to exceed JPY 1.5 trillion (about USD 10.3 billion).
SK Hynix's stake in Kioxia (through Bain led consortium) is 19%. SK Hynix's stake in Kioxia would rise to 34% if the CBs are converted into equity. 
The IPO of Kioxia has mixed implications for SK Hynix which is a major shareholder. However, the IPO of Kioxia has a more direct negative impact on Samsung Electronics.


Initial Thoughts on the Kioxia IPO - Impact on SK Hynix and Samsung Electronics