SK Hynix Becomes De Facto Second-Largest Shareholder of Kioxia as Bain Capital Exits

According to Jin10, SK Hynix has become the de facto second-largest shareholder of Kioxia following Bain Capital's major divestment last month. Bain Capital, which previously controlled 55% of Kioxia through special purpose companies, disclosed the sale of the majority of its stake, raising approximately 2.5 trillion yen (around 22 trillion Korean won). Toshiba, which holds 15% of Kioxia, is now the largest shareholder, while SK Hynix's stake stands at 14%. However, SK Hynix has yet to convert its convertible bonds into shares and will require antitrust clearance from multiple countries to exercise voting rights.
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