Investors Wanted $7 Billion More of SK Hynix Than It Offered
SK Hynix's blockbuster U.S. debut drew billions from top investors -- even as memory stocks slumped -- revealing what Wall Street may be betting on next.
Overview
When SK Hynix (NASDAQ: SKHY) brought its record-breaking share sale to Wall Street last week, the striking part wasn't just the $26.5 billion it raised -- it was how much more money was left standing at the door. A trio of marquee investment firms signaled they wanted to buy up to $7 billion of the stock, and the deal as a whole drew orders more than seven times the shares available.
For a memory-chip maker that most American investors couldn't easily buy until a few days ago, that is a stunning show of appetite.
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Originally published at www.fool.com.
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