SK Hynix's Nasdaq Debut Just Became the Largest U.S. Listing by a Foreign Company
Investing in SK Hynix is now easier for U.S. investors, but that doesn't automatically mean it's worth owning a piece of the company.
Overview
For the memory and storage boom driven by artificial intelligence (AI), investors have flooded into companies like Micron Technology and Sandisk. There's been, however, another successful operator in the space, but U.S. investors have largely been stuck on the sidelines, unable to own it.
That company is SK Hynix, and it's been difficult to own because it has been trading on the Korean Exchange. There were some "workarounds," such as owning shares of the KraneShares Artificial Intelligence and Technology ETF, since SK Hynix is among its holdings, but that still wasn't a substitute for anyone who wanted a direct stake in SK Hynix.
Details
That all changed on July 10. SK Hynix raised $26.5 billion, making it the largest first-time listing for a foreign company in the U.S.
Source
Originally published at www.fool.com.