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SK Hynix to Raise $29.4B in Nasdaq IPO; HSBC Expects 20% Valuation Lift

GateNews
Stocks
According to HSBC, SK Hynix's upcoming Nasdaq listing this week could lift the company's valuation by approximately 20%, with its price-to-book ratio expected to rise to 3.4 from 2.8. The company plans to raise $29.4 billion through American Depositary Receipts priced at $166 each, according to Reuters. HSBC raised its price target for SK Hynix to 4 million Korean won from 2.9 million, citing improved accessibility to global investors as a key driver. The analyst noted that Micron has traded at an average premium of 35% to SK Hynix over the past 13 years, primarily due to better access to U.S. capital markets.
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