SK Hynix ADRs Surge After Record $26.5 Billion US Offering
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SK Hynix Inc.’s American depositary receipts surged above their offering price, after the South Korean memory chipmaker raised $26.5 billion in the largest-ever US listing by a foreign company. The ADRs opened at $170 each on Friday in New York, versus an offering price of $149 apiece. The successful mega-listing brushed aside concern over recent volatility among chipmakers, demonstrating investors have plenty of appetite for direct exposure to SK Hynix’s dominant position in high-bandwidth memory for artificial intelligence computing. The ADRs are trading at a premium of about 17% over the closing price of the Seoul-listed common stock, due in part to restrictions on exchanging the South Korean stock for the US instruments. We get reaction from Anthony Hughes, Bloomberg News US ECM Reporter. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET Saturday & Sunday 7am-10am ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: https://twitter.com/BloombergRadio Subscrib
Tags: Anthony Hughes, Hynix Semiconductor Inc., New Listings, Paul Sweeney, SK Hynix, SK hynix Inc. p, Scarlet Fu, Semiconductors, semiconductor stocks, semiconductors, sk hynix inc., stock listings, tech industry
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