Law firm Nishimura & Asahi has advised Japanese chip tool-maker Kokusai Electric on its proposed $750 million initial public offering on the Tokyo Stock Exchange. U.S. law firm Simpson Thacher & Bartlett is advising Kokusai’s majority stakeholder KKR, which will be provided a partial exit.
The underwriters were represented by Davis Polk & Wardwell and Anderson Mori & Tomotsune.
Kokusai plans to list on Oct. 25. At Kokusai's indicative price of 1,890 yen per share, the company will offer 111.2 billion yen ($749.88 million) worth of shares and have a market value of 435.5 billion yen ($2.9 billion), according to Reuters.
The Simpson Thacher team representing KKR is led by Tokyo-based capital markets partner Alan Cannon, and includes counsel David Snowden and associate Yuriko Miyasaka.
Kokusai said the listing will provide capital for investment in research at a time when the market for chipmaking equipment is forecast to grow, Reuters reported.
