IlluMyFi

The company had raised 120 billion yen ($800 million) in its IPO, exercising a overallotment option. Shares were priced at 1,455 yen apiece, the midpoint of its price band of 1,390-1,520 yen. Kioxia, formerly known as Toshiba Memory, was the chip division of Toshiba, and was sold to a Bain-led consortium in 2018 for $18 billion. Shares of Japan computer memory manufacturer Kioxia rose 2.69% on its debut in Tokyo after the company raised over just over 120 billion yen ($800 million) in its initial public offering.Shares were trading at 1,484 yen at 9:14 a.m. Tokyo time, slightly higher than the offer price of 1,455 yen per share, the midpoint of its IPO price band ranging from 1,390-1,520 yen.Kioxia initially offered 71.8 million shares, but later exercised an overallotment option to offer an additional 10.79 million shares, according to a filing in Japanese on Monday.The IPO consisted of Kioxia issuing new shares, as well as a sale of shares from major shareholders Bain Capital and Toshiba.Early on Wednesday, Reuters reported that Kioxia had requested its major shareholders to sell more shares so as to meet listing requirements on the Tokyo Stock Exchange’s Prime market.Kioxia revealed that the ratio of shares in the market is only at 28.09%, below the Prime market’s requirements of 35%.Kioxia, formerly known as Toshiba Memory, was the chip division of Toshiba, and was sold to a Bain-led consortium in 2018 for $18 billion.Third time’s the charmThis is not Kioxia’s first crack at trying to list on public markets. Back in 2020, Kioxia postponed plans for an IPO on the grounds that “continued market volatility and ongoing concerns about a second wave of the pandemic” meant that it was not in the best interest of shareholders to proceed with a public listing, it said in a statement at the time.Reuters reported in September that Bain scrapped its plan for an IPO in October. This was due to a sell off in Japanese stocks in August, which made the 1.5-trillion-yen valuation that Bain had been targeting “challenging,” according to the Reuters report.

Sentiment

-0.68

Bearish/Bullish

05.01.25 04:10

by nbcsandiego.com

Top Wall Street analysts pick these dividend stocks for 2025

Major U.S. indices had a good run in 2024, thanks to the buzz around artificial intelligence and interest rate cuts. However, macro uncertainty could weigh on investor sentiment in 2025. In this scenario, investors looking for regular income can consider adding dividend stocks to their portfolios.Top Wall Street analysts can help investors pick attractive dividend stocks that offer consistent payments, supported by strong fundamentals.Here are three dividend-paying stocks, highlighted by Wall Street’s top pros as tracked by TipRanks, a platform that ranks analysts based on their past performance.Ares CapitalWe start with Ares Capital (ARCC), a specialty finance provider that offers financing solutions to private middle-market companies. With a quarterly dividend of 48 cents per share, ARCC stock offers a yield of 8.7%.In a research note on the 2025 outlook for business development companies (BDC), RBC Capital analyst Kenneth Lee reiterated a buy rating on ARCC with a price target of $23, calling the stock RBC’s favorite BDC name for 2025.“ARCC has a leading position in the BDC space, with benefits from scale, strong originations engine in the Ares direct lending platform (coverage across all MM segments), and ~20 years of experience and solid performance in the space,” said Lee.The analyst highlighted ARCC’s ability to offer flexible capital across various financing solutions for clients as differentiating it from its peers. Lee also noted other strengths, including the company’s impressive history in managing risks through the cycle, access to the resources of the Ares Credit Group, and scale advantages, given that it is the largest publicly traded BDC by assets.Lee also emphasized ARCC’s dividends, which are backed by the company’s core earnings per share and potential net realized gains.Lee ranks No. 23 among more than 9,200 analysts tracked by TipRanks. His ratings have been profitable 71% of the time, delivering an average return of 18.1%. See Ares Capital Ownership Structure on TipRanks.ConocoPhillipsWe move to ConocoPhillips (COP), an oil and gas exploration and production company. In October, the company delivered better-than-expected third-quarter earnings and raised its full-year output guidance to reflect the impact of operational efficiencies.Moreover, ConocoPhillips raised its quarterly dividend by 34% to 78 cents per share and boosted its existing share repurchase authorization by up to $20 billion. Based on an annualized dividend per share of $3.12, COP stock offers a dividend yield of 3%.In a research note on the U.S. oil and gas outlook, Mizuho analyst Nitin Kumar upgraded ConocoPhillips stock to buy from hold and raised the price target to $134 from $132. “COP offers an enviable combination of long-duration inventory, a fortress balance sheet and peer-leading cash returns,” said Kumar.The analyst noted that the pullback in COP shares since the announcement of the Marathon Oil acquisition indicates that moderate inventory dilution resulting from the deal has already be...