Market Chatter: SK Hynix's Nasdaq IPO Oversubscribed 'Multiple Times'

MT Newswires Live

Jul 08

South Korean chipmaker SK Hynix's (KRX:000660) $28.1 billion Nasdaq IPO was oversubscribed "multiple times" ahead of pricing on Thursday, Bloomberg News reported Wednesday, citing people familiar with the matter.

The valuation is based on the company's Friday closing price of its common shares in Seoul.

The chipmaker began offering about 177.9 million American depositary receipts (ADR) priced at $158.14 per ADR, according to a prospectus filed Monday.

Each ADR represents one-tenth of a common share, according to the report.

SK Hynix declined to comment on the matter when contacted by MT Newswires.

Shares of the company jumped more than 4% in recent trade in Seoul.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LCLG","symbol_name":"Logan Capital Broad Innovative Growth ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2649095959","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2649095959","pubTimestamp":1783475512,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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