142 Kokusai Electric (6525.T) announced plans on Wednesday for a secondary offering of up to 60.4 million shares, valued at approximately 326 billion yen ($2.02 billion) including overallotment. This move involves selling shares to investors, including private equity firm KKR (KKR.N). The decision to proceed with the secondary offering follows a surge in the stock price of the Japanese chip equipment maker, although Kokusai’s shares closed down 8% in Tokyo on Wednesday following reports of the share sale plan by Reuters. Concurrently, Kokusai also disclosed intentions to repurchase shares worth up to 18 billion yen. KKR’s participation in the offering will reduce its stake from around 43% to approximately 23%. With a market capitalization of about $8.5 billion, Kokusai’s shares have recorded a substantial 75% increase year-to-date. The company aims to enhance its profit margins, amid investor enthusiasm for chip equipment manufacturers amidst expectations of increased investments in technologies like artificial intelligence, which are anticipated to drive growth in the sector. You Might Be Interested In UK Competition Regulator Launches Investigation into Microsoft’s AI Hiring and Partnership Graco’s Smart Soothers: Lull Your Baby with High Techpen_spark Byju’s Fights for Survival: Startup Challenges Insolvency Proceedings PwC Embraces AI Boom, Inks Deal to Become OpenAI’s Top Client GM Pours $900 Million into Michigan Plant for Electric Vehicle Shift Forget Chipmakers, JPMorgan Says AI Users Will Be the Next Big Winners
