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What just happened? SK Hynix debuted on the NASDAQ stock market on Friday following an investor roadshow that saw stops in Asia, Europe, and the US. The South Korean semiconductor manufacturing company priced its American Depositary Receipts at $149 per, resulting in a haul of roughly $26.5 billion.
According to the BBC, it's the largest ever listing by a foreign company in the US.
One source familiar with the matter told Reuters that demand for SK Hynix shares was more than seven times higher than the number of shares available. SK Hynix hasn't commented on demand or pricing as of this writing, however, and the source wasn't identified as key details of the sale are confidential.
