SK hynix ADR offering 7times subscription draws Chey Tae-won to the U.S. and sends shares sharply higher
SK hynix recorded a 7times subscription in its ADR offering for a Nasdaq listing. Chairman Chey Tae-won departed for the United States for local investor relations activities, and 9in trading, SK hynix shares 5.3~6% rebound. The top 1% of investors were net buyers of Hynix and SK Square, among others, while Samsung Electronics was sold net.
SK hynix recorded a 7times subscription in its ADR offering conducted ahead of its Nasdaq listing. The successful offering attracted strong investor interest.
SK Group Chairman Chey Tae-won departed for the United States to conduct investor relations activities there in connection with the Nasdaq listing. The possibility of meetings with industry figures has also been mentioned in connection with his schedule.
9At the close of trading, SK hynix finished up 5.3%. Reports on notable stocks captured the shares rising as much as 6% at one point during the session.
On the same day, Samsung Electronics 0.2closed % higher. The movements of the two stocks appeared to result from intraday investment flows coinciding with the news of the public offering.
The top 1% high-performing investors made net purchases of SK hynix, SK Square, Korea Financial Group, LG Electronics, and HPSP in the morning. During the same period, Samsung Electronics ranked among the top net-selling stocks for the top 7%.1.
In the afternoon, concentrated buying of “Nix Square” was observed. The day’s individual trading patterns led to price movements in some stocks.
SK hynix’s ADR offering and Nasdaq listing schedule, along with Chairman Choi’s local investor relations activities, served as major news in the Korean stock market that day. Trading in the related companies and investors’ trading behavior were repeatedly reported during the session.