Simpson Thacher recently represented KKR HKE Investment L.P. (“KKR”) in connection with the sale of 24,692,000 shares of KOKUSAI ELECTRIC CORPORATION (“KOKUSAI ELECTRIC”) pursuant to Rule 144A and Regulation S under the Securities Act. The secondary offering raised gross proceeds for KKR of approximately ¥151.6 billion (approximately $950 million). The block trade marked KKR’s exit from its investment in KOKUSAI ELECTRIC.
KOKUSAI ELECTRIC is a provider of semiconductor manufacturing systems that utilize world-class thin film deposition technologies and related support services based in Japan.
The initial purchasers for this block trade were Nomura Securities Co., Ltd., JPMorgan Securities Japan Co., Ltd., SMBC Nikko Securities Inc., Daiwa Securities Co. Ltd., Morgan Stanley MUFG Securities Co., Ltd. and Goldman Sachs Japan Co., Ltd. KKR Capital Markets LLC participated in the block trade as a lead managing agent.
The Simpson Thacher team included David Snowden and Anni Cai (Capital Markets); Makiko Harunari, Atsushi Usui and Chenyu Cui (Banking and Credit).