JAPAN CHIP TOOL MAKER KOKUSAI ELECTRIC RAISES $724 MLN IN IPO

Chip equipment maker Kokusai Electric (6525.T) has raised $724.4 million after pricing its shares at the top end of their marketed range in Japan's largest initial public offering in five years. Kokusai, owned by U.S. private equity firm KKR (KKR.N), set its IPO price at 1,840 yen per share, according to a filing on Monday, valuing the company at 423.9 billion yen ($2.8 billion).

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