SK Hynix Becomes the Largest Shareholder in Kioxia with a 14.19% Stake

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On-chain data shows that SK Hynix has become Kioxia’s largest shareholder with a 14.19% stake through SPC2. Toshiba’s stake decreased to 14.06% following seven share sales. SK Hynix initially invested 4 trillion KRW in 2018, with SPC2 holding 1.3 trillion KRW. Convertible bonds may increase voting rights, subject to regulatory approval. Altcoins to watch could respond to such cross-border semiconductor developments.

ChainThink reports that on August 11, Kioxia disclosed that SK Hynesis, through its invested special purpose company SPC2, has become the largest shareholder of Japanese NAND flash manufacturer Kioxia.

SPC2 currently holds a 14.19% stake in Kioxia, with the largest shareholder of Kioxia having changed from Toshiba to BCPE Pangea Cayman2 (SPC2).

Toshiba previously held a 15.10% stake in Kioxia, but after selling its shares in seven transactions between July 15 and August 3, its ownership decreased to 14.06%, below SPC2's 14.19%.

In 2018, SK Hynix invested approximately KRW 4 trillion in Kioxia through two SPCs, with an ongoing investment of approximately KRW 1.3 trillion through SPC2 via convertible bonds.

If the relevant convertible bonds are converted into shares, SK Hynix could become a shareholder with voting rights in Kioxia, but still requires approval from competition and antitrust regulators in various countries.

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