Key investors in SK Hynix's (SKHYV, SKHY) $26.5 billion US listing, which was about seven times covered, received fewer American depositary receipts than initially anticipated, Bloomberg reported Thursday, citing unnamed people familiar with the matter.
An allocation of roughly $5 billion worth of ADRs to Baillie Gifford, Coatue Management, and Situational Awareness Partners was $2 billion less than the maximum amount indicated during book-building, the news report cited sources as saying.
SK Hynix is set to begin trading on Nasdaq on Friday, according to a July 2 statement from Direxion, a provider of exchange-traded funds.
Baillie Gifford, Coatue Management and SK Hynix did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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