Kioxia's shares rise in debut, valuing Japan chipmaker at $5.3 billion

Kioxia, formerly known as Toshiba Memory, was bought for 2 trillion yen in 2018 by a Bain-led consortium from Toshiba after a long and contentious battle. Toshiba put the business up for sale after plunging into crisis due to cost overruns at its nuclear business. Kioxia's debut comes in a strong year for IPOs in Japan that saw big-ticket IPOs from Tokyo Metro and Carlyle Group backed testing tool maker Rigaku.