Japanese semiconductor-equipment company Kokusai Electric Corp. is expected to start trading in Tokyo on Wednesday after the largest initial public offering in the country since 2018.

American private equity firm KKR & Co., which acquired the business from Hitachi Kokusai Electric Inc. in 2018, sold about 58.8 million shares in the company to raise ¥108 billion ($721 million). Shares were sold at ¥1,840 each, the top of a marketed range, in the biggest IPO hosted in Tokyo since SoftBank Corp.’s ¥2.4 trillion listing in December 2018.