Chip equipment maker Kokusai Electric has raised $724.4 million after pricing its shares at the top end of their marketed range in Japan's largest initial public offering in five years. Kokusai, owned by U.S. private equity firm KKR, set its IPO price at 1,840 yen per share, according to a filing on Monday, valuing the company at 423.9 billion yen ($2.8 billion). The portion of the IPO available to foreign investors was more than 10 times oversubscribed, said two sources with direct knowledge of the matter, who were not authorised to speak to media and declined to be identified.