Following SK Hynix's U.S. debut, Nasdaq sees a surge in interest from other international companies considering a U.S. listing. The South Korean chipmaker raised $26.5 billion. This marked the largest-ever U.S. initial public offering by a foreign company. Its stock closed up approximately 13% on its first day of trading.
Nasdaq President Nelson Griggs states the successful and oversubscribed offering prompts more overseas firms to explore initial public offerings or American depositary receipt (ADR) sales. Griggs notes international companies are drawn to U.S. markets for better valuations and deeper capital pools. Conversations are increasing with both early-stage and established foreign companies.