Japanese computer memory maker Kioxia raised more than 120 billion yen ($800 million) in its initial public offering in Tokyo, sending its shares up about 10% in its Tokyo debut.

Shares closed at 1,601 yen on Wednesday, above the issue price of 1,455 yen per share, the midpoint of its IPO price range of 1,390-1,520 yen.

Kioxia initially issued 71.8 million shares, but later exercised its over-allotment option and issued an additional 10.79 million shares. Japanese documents submitted on Monday.

The IPO includes the issuance of new shares by Kioxia and the sale of shares from major shareholders Bain Capital and Toshiba.

Earlier on Wednesday, Reuters reported that Kioxia had asked its major shareholders to sell more shares to meet listing requirements on the Tokyo Stock Exchange’s main market.

Kioxia revealed that its market share is only 28.09%, which is lower than the market share. The requirement for premium markets is 35%.

Kioxia, formerly known as Toshiba Memory, was Toshiba’s chip division and was later sold to consortium led by bain In 2018 it was US$18 billion.

This is not the first time Kioxia has attempted to list on the public market. Back in 2020, Kioxia Postpone IPO plans The company said in a statement at the time that it reasoned that “ongoing market volatility and ongoing concerns about a second wave of the epidemic” meant that continuing to go public was not in the best interests of shareholders.

Reuters reports In September, Bain Capital canceled its October IPO plans. According to Reuters, this was due to a sell-off in Japanese stocks in August, which made the 1.5 trillion yen valuation that Bain & Company had been targeting “challenging.”