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Remembering Harley: Graveside memorial service honours homeless Hantsport man’s life | SaltWireTOKYO - Kokusai Electric shares jumped 29% in their Tokyo market debut on Wednesday after private equity firm KKR sold shares in the chip equipment maker for $724 million in Japan's largest initial public offering in five years.
Kokusai had priced its shares at 1,840 yen in the largest Tokyo listing since telco SoftBank Corp went public in 2018, providing a partial exit for KKR, which has cut its stake to 47.7% from 73.2% without overallotment. While Kokusai is exposed to slumping demand for memory chips, that market is expected to rebound, and the tool maker will also able to expand in other segments, said Kazuyoshi Saito, an analyst at Iwai Cosmo Securities.
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