Private equity firm KKR Group plans to list Kokusai Electric Corp.’s shares in Tokyo as early as October at a valuation north of ¥400 billion ($2.7 billion), a person familiar with the matter said.
KKR will float a portion of the shares it owns in the former Hitachi Ltd. operations on the Tokyo Stock Exchange, the person said, asking not to be named as the talks are not public. While it’s not yet clear how much equity will be sold to investors, the initial public offering would raise roughly $540 million if the company sold a 20% stake.
Recent listings in Tokyo include Rakuten Bank Ltd.’s $623 million initial public offering in April, the country’s largest since SoftBank Group Corp.’s telecom unit SoftBank Corp. listed in 2018.
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