SK Hynix Raises $26.5 Billion in the Second-Biggest Share Sale Ever
SK Hynix's record-breaking Nasdaq debut gives U.S. investors a new way to play the AI boom, but the timing also serves as a reminder that even the hottest semiconductor stocks remain deeply cyclical.
Overview
The South Korean memory-chip powerhouse SK Hynix (NASDAQ: SKHY) made a splashy arrival on American markets last Friday, raising $26.5 billion in a Nasdaq share offering that ranks among the largest of all time.
The company sold 177.9 million American depositary receipts -- a way for U.S. investors to own a foreign stock in dollars, with every 10 receipts representing one Seoul-listed share -- at $149 apiece. Demand was ferocious; orders reportedly ran to roughly seven times the shares on offer, and early indications pointed to the stock opening about 17% above its offering price.
Details
So is it too late to get in or is this still a good opportunity for investors? Let's have a look.
Source
Originally published at www.fool.com.