SK Hynix becomes Kioxia's actual second-largest shareholder

TechFlow news, on July 27, as Kioxia's former largest shareholder Bain Capital sold a large stake, SK Hynix has effectively become Kioxia's second-largest shareholder. Observers predict that given Toshiba, which has currently jumped to become the largest shareholder, is also continuously reducing its holdings, SK Hynix may eventually become Kioxia's largest shareholder in the future. Bain Capital previously stated that it sold most of its Kioxia shares last month through disclosures such as large shareholding reports, cashing out approximately 2.5 trillion yen (approximately 22 trillion won).

In 2018, Bain Capital acquired 55% of Toshiba Memory (now Kioxia) through four special purpose companies (SPC). With Bain Capital selling its shares, Toshiba, holding 15% of Kioxia shares, became the largest shareholder. Currently, the second-largest shareholder is a special purpose company actually controlled by SK Hynix, with a shareholding ratio of 14%. However, SK Hynix has not yet converted its convertible bonds (CB) into stocks, so to become a shareholder with actual voting rights, it still needs to pass anti-monopoly reviews in multiple countries. (Jin10)