SK Hynix raises $26.5B in the biggest foreign IPO in US history, is urged to build new US fabs
The AI chip boom just produced its biggest Wall Street moment yet. Now SK Hynix and Samsung are being asked to build U. SK Hynix, a South Korean memory chip giant, said Friday it has raised $26.
Key Takeaways
- 5 billion (KRW 40 trillion) in its U.
9 million American depositary shares (ADRs) at $149 each, structured so U.
- Yet, demand for the offering was reportedly more than seven times the available shares, per media reports.
That's especially amazing considering Korean companies have long traded at a discount to their global peers.
- Per its filing, the money raised from eager U.
investors will go to three places: a new fab in South Korea (being built now to address the worldwide shortage of memory cause by AI); a new packaging facility in that country; and EUV scanners, the machines that make next-generation chips possible.
- It announced it plans to invest $250 billion in new U.
- Join 1,000+ founders and VCs at all stages for real-world scaling insights and connections that move the needle.
Stats & Key Facts
- #SK Hynix, a South Korean memory chip giant, said Friday it has raised $26.
- #5 billion (KRW 40 trillion) in its U.
- #9 million American depositary shares (ADRs) at $149 each, structured so U.
- #debut by a non-American company, topped Alibaba's $25 billion IPO in 2014.
The AI chip boom just produced its biggest Wall Street moment yet. Now SK Hynix and Samsung are being asked to build U. The AI chip boom just produced its biggest Wall Street moment yet.
investors can buy in at roughly a tenth of what a full share costs in Seoul. debut by a non-American company, topped Alibaba's $25 billion IPO in 2014. The company begins trading on the Nasdaq today, Friday, July 10, under the temporary ticker SKHYV.
Regular trading opens Monday, July 13, when the ticker officially becomes SKHY. The stock opened at 14% over its IPO price , and the price was still rising in early trading on Friday. 7% premium to its own three-day average back home in Seoul, according to its Korea Stock Exchange filing .
For more details please read the original article at TechCrunch AI.
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