SK Hynix to price US IPO at $149 per depository share

South Korean chipmaker SK Hynix reportedly priced its US share sale at $149 per ADS, targeting a roughly $28 billion raise ahead of its Friday debut.

• SK Hynix is building a $4 billion production facility in Indiana and growing its Solidigm business near Sacramento, California.

SK Hynix (000660.KS) set the price of its American depositary shares (ADS) at $149 each ahead of its US public trading debut on the Nasdaq on Friday, Reuters and Bloomberg reported.

The initial public offering (IPO) consists of 177.9 million ADS, also called American depositary receipts, each representing one-tenth of a share of the company's common stock, or 17.79 million shares, that will trade under the ticker symbol SKHY beginning Monday.

The company's South Korea-listed stock, which trades on the Korea Exchange, has skyrocketed 174% over the past six months and 636% in the past year. 

Memory makers are flying high thanks to the seemingly insatiable demand for high-bandwidth memory (HBM) and storage chips, which has created a global shortage impacting everything from data center builders to the consumer electronics industry.

Data center servers require storage chips to save and access data needed to run AI models and processes. But AI chips, like Nvidia's (NVDA) graphics processing units (GPUs), don't need to access every bit of program or AI model all the time. Doing so would make them slow and inefficient.

It would be like trying to remember everything that's happened in your life when someone asks what you did over the weekend.

That's where HBM comes in. This specialized memory holds the most important data needed to run a piece of software, right next to the processor, enabling superfast performance.

Three major companies make HBM and storage: Micron (MU), Samsung (005930.KS), and SK Hynix. And according to SK Hynix's filing with the Securities & Exchange Commission, it's the latest producer of HBM, capturing 56.4% of the market. All three companies are Nvidia partners.

Blue Origin valued at $130 billion in first public fundraising round

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  Jeff Bezos’ Blue Origin is raising $10 billion, in its first outside funding round that will value the rocket company at $130 billion.
• The funding round comes hot on the heels of a blockbuster IPO by Elon Musk’s SpaceX last month.
• Blue Origin competes in many of the same markets as SpaceX, including heavy-lift rockets and lunar landers.
• Bezos is set to contribute $2 billion into the round, along with about $4 billion from hedge fund Coatue Management, according to people familiar with the matter, who asked not to be named because the details are private.
• The remaining $4 billion has seen significant demand, with several major investors expected to participate, the people said.
• The funding round comes hot on the heels of a blockbuster IPO by Elon Musk’s SpaceX
•  last month. SpaceX raised nearly $86 billion, including the underwriters’ option, making it the largest IPO on record and minting Musk a trillionaire. The company is now valued at about $2 trillion. 

==Madison Square Garden Sports (MSGS) and Madison Square Garden Entertainment (MSGE)

MSGS owns the New York Knicks (NBA), New York Rangers (NHL), and related assets (minor league teams, training facilities, etc.).

It became public through a spin-off in 2015 (originally trading as MSG) from what was then the broader Madison Square Garden Company.

In 2020, it spun off its entertainment assets (including Madison Square Garden arena operations) into a separate public company (now MSGE / Sphere Entertainment).

MSG Sports is actively pursuing a proposed tax-free spin-off to separate the Knicks and Rangers businesses into two distinct publicly traded companies.