Nasdaq president says SK Hynix blockbuster IPO to draw foreign firms to US

Corporate ActionIndustry Impact 4
โดย Investing.com·Read original
Summary · why it matters

Nasdaq President Nelson Griggs said the blockbuster listing of SK Hynix is prompting other international companies to consider US initial public offerings or American depositary receipt sales. Griggs spoke after returning from a trip to Europe, noting that foreign issuers interested in the US market include both early-stage companies and established firms with existing local listings considering ADRs. The South Korean chipmaker raised $26.5 billion in the largest-ever US listing by a foreign company, with its ADRs rising almost 20% in intraday trading above the offering price. Griggs credited JPMorgan Chase for striking the right pricing balance, noting that the deal had to account for comparable US company Micron Technology. He added that SK Hynix Chairman Chey Tae-won's intention to monitor the ADRs' stability before considering a return to US capital markets is typical behavior for seasoned public companies.

Impact on stocks 4

Semiconductors▲ · 2 stocks
SK Hynix Inc
000660
▲ PositiveCapitalrelevance

SK Hynix completed a $26.5 billion US listing, with ADRs rising nearly 20% on debut.

Digital Finance & Tokenization▲ · 2 stocks
Nasdaq Inc
NDAQ
▲ PositiveCapitalrelevance

Nasdaq president's comments highlight exchange's attractiveness for foreign listings, potentially boosting listing revenue.

JPMorgan Chase & Co
JPM
▲ PositiveCapitalrelevance

JPMorgan Chase credited for pricing the SK Hynix IPO, highlighting its investment banking capability.

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