SK hynix ADR offering 7times subscription, Chey Tae-won at the Nasdaq opening bell
SK hynix recorded 7month 8day ADR offering 7times subscription, and Chairman Chey Tae-won stood at the Nasdaq opening bell on 7month 9day. SK hynix and Square shares surged on the offering's strong reception and local investor relations activities, while some individual star investors were reported to have bought SK hynix and sold Samsung Electronics.
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SK hynix's ADR offering conducted in 7month 8day closed with 7times subscription. The result is drawing investor interest.
7month 9day, SK Group Chairman Chey Tae-won rang the opening bell at Nasdaq. On the same day, SK hynix and Square shares surged.
Some stock-market star investors were reportedly said to have recently changed their portfolios by adding SK hynix and selling Samsung Electronics. The trading activity affected short-term supply and demand.
KB Securities assessed that SK hynix’s ADR listing could become an opportunity for a valuation re-rating, as in the case of TSMC. This assessment was presented on the basis of the successful public offering.
IR activities also continued. The company’s local events in the United States, including Choi Tae-won’s local IR activities, drew attention.
Meanwhile, some stocks were reported to have fallen by about over two days 30%, but reports also emerged that seasoned investors had begun buying during that period. Trading tendencies diverged depending on the circumstances.
This series of developments is summarized as a case in which public offering subscriptions, local IR activities, and market reactions occurred simultaneously. The company’s announcements should be checked for the exact listing schedule and future disclosures.