A Once-Obscure Chip Maker Has Landed the Largest US Listing by a Foreign Company
The deal is expected to raise about $24.5 billion and could draw roughly $15 billion in passive inflows, analysts said.
- On Thursday, SK Hynix prepared for its Friday Nasdaq debut as strong institutional demand for 177.9 million ADRs exceeded available shares by over seven times.
- The South Korean chipmaker launched this sale to fund domestic manufacturing expansion, including extreme-ultraviolet lithography machines, as the Technology boom drives demand for Hynix HBM.
- Anchor investors Baillie Gifford Overseas, Coatue Management, and Situational Awareness Partners signaled appetite for $7 billion of ADRs, while total orders reached roughly $171.5bn, dwarfing available shares.
- Underwriters finalized pricing on Thursday with proceeds potentially reaching roughly $25.71 billion, which Barron calculated would make it the largest ADR offering ever, surpassing Alibaba's 2014 debut.
- Analysts anticipate further demand once ADRs join major benchmarks, with index inclusion potentially drawing around $15bn in passive inflows as trading begins Friday on the Nasdaq Global Select Market.
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By Stephanie Yang, CNN A company that many people have probably never heard of a year ago has achieved the largest stock market outlet in the U.S. by a foreign corporation, giving U.S. investors direct access to one of the most attractive operations of the year.The giant The post A chip manufacturer that was previously little known has achieved the largest stock market outlet for a foreign company in the U.S. appeared first on KVIA.
It's one of the world's largest companies, yet its name remains largely unknown to the general public: South Korean memory chip giant SK hynix is making its US stock market debut this Friday, July 10. And it promises to be a spectacular debut, as the semiconductor manufacturer has set a share price that should allow it to raise $26.5 billion, a figure that demonstrates the markets' continued enthusiasm for artificial intelligence.
Global Market: SK Hynix's Nasdaq ADR debut raises $26.5 billion amid AI chip boom
South Korean chipmaker SK Hynix successfully raised $26.5 billion through its ADR offering. This significant fundraising highlights robust global investor interest in AI semiconductor suppliers. The company is a leading provider of essential high-bandwidth memory chips for AI processors.
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