SK Haisung ADR Raises $26.5B, Sees Potential 30-35% Premium on Nasdaq Debut

SK-11.41%
According to Periscope Analytics analyst Brian Freitas, SK Haisung's newly listed American Depositary Receipt (ADR) may experience valuation premiums in the near term. Freitas projects the ADR to trade at a premium of 30-35% in the extremely short term, which will likely narrow due to limited passive buying demand for the U.S. securities. The company raised $26.5 billion in its U.S. offering and debuted strongly on Nasdaq last Friday, with ADRs closing up nearly 13%. In early Seoul trading today, the stock declined 10%.
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