Asian Stocks Rally as SK Hynix Breathes Life Back Into AI Trade
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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Asian stocks rally as SK hynix breathes life back into AI trade
The breathtaking $26.5 billion listing by SK provided some much-needed affirmation to investors that the AI boom remains on course, despite lingering worries about extended valuations and eye-watering capital spending. The news came as attention turns to the upcoming earnings season, with traders looking to companies' outlook for the industry and investment plans amid expectations that interest rates will be kept elevated for the time being. SK …
In the midst of the whirlwind of artificial intelligence (AI), the semiconductor company SK Hynix wants to go to the stock market on Friday in New York. The South Korean company has set the issue price on Nasdaq at $149 per share (good 130 euros). SK Hynix hopes for revenues of around 28 billion dollars. SK Hynix's chips are used worldwide in high-performance data centers for AI. The Group is already trading on the Seoul stock exchange, its valu…
SK Hynix Nasdaq Debut: The AI Memory Giant Behind the Boom Comes to Wall Street
SK Hynix, one of the world's biggest suppliers of high‑bandwidth memory crucial to artificial intelligence systems, is set to begin trading on Nasdaq through American depositary receipts (ADRs), giving investors a new way to buy shares in the South Korean chipmaker. The ADRs are expected to begin trading on Nasdaq under the ticker SKHY, while the company's primary listing will remain on the Korea Exchange. Interest has risen ahead of the debut, …
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