Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 2: Let's take a look at some stocks on the move today.
Speaker 2: I'm Tom Keen with Paul Sweeney and Bloomberg's Jent.
Speaker 1: All right, let's start with sk Heidex this morning, kicking
Speaker 1: off the formal marketing process for its US listing, the
Speaker 1: South Korean shipmaker. I was trying to capitalize an investor
Speaker 1: demand for the memory chip sector. I'm going to say
Speaker 1: the high flying memory chip sector. A company is seeking
Speaker 1: to sell American depositary receipts. This would represent just about
Speaker 1: eighteen million Commons shares. It'll be valued at about twenty
Speaker 1: eight billion dollars. The offering of the ADRs comes after
Speaker 1: the firm's sole traded stock that Sucker has rallied two
Speaker 1: hundred and sixty percent. Sent this here, the company's market
Speaker 1: cap is now above trillion dollars. So a US listening
Speaker 1: for sk heinez.
Speaker 2: Opens another big deal for the Wall Street investment. Yeah,
Speaker 2: twenty two thousand employees.
Speaker 1: Well yeah, again, a trillion dollar market cap. So this
Speaker 1: was going to open up a pretty important fundraising channel
Speaker 1: for the high bay with memory. I've never seen this.
Speaker 2: Maybe you said this, John twelve months total return seven,
Speaker 2: I've never seen that number. Bank of America, City Group,
Speaker 2: Goldman Sachs and JP Moore been leading the deal.
Speaker 1: The ad R sale be among the top three first
Speaker 1: time share sales ever at the person size. Right now,
Speaker 1: a couple of phone calls. Chip supplier Broadcom ticker symbol
Speaker 1: AVGO expanding their work with Apple, and this is going
Speaker 1: to take place through at least the next five years
Speaker 1: of development, so apply products for multiple generations of Apple's devices.
Speaker 1: Broadcom has long made connectivity components for the iPhone, the
Speaker 1: stock that has gained about thirty percent over the past
Speaker 1: year as the Yeah, the AI boom is fuel demand
Speaker 1: for more semiconductors the company has, among other things. This
Speaker 1: deal actually comes as the price of memory and storage
Speaker 1: chips as surge in recent months. So you know, why
Speaker 1: not try to do you have a third chip stock
Speaker 1: you'd like to, well, let me do this chip. Remember
Speaker 1: Honeywell International, they did a bunch of spin offs trying
Speaker 1: to like trim things down. One of the spin offs
Speaker 1: was Solstice Advanced Materials. They are now acquiring Element Solutions
Speaker 1: cash and stock deal. It's not a small deal, fourteen
Speaker 1: and a half billion dollars. So this has created market
Speaker 1: leader in the specialty chemicals sector Semis. No, it's not Semis,
Speaker 1: it's Chemicals Elements shareholders. We'll loan about forty four percent
Speaker 1: of the combined company. The deal values it includes the
Speaker 1: assumption of net debt. Solstice makes materials, including polymers and
Speaker 1: performance fluid elements. Focus is on products used in sectors
Speaker 1: including electronics and semiconductors. There's the connection. Honeywell announced in
Speaker 1: October twenty twenty four it would hive Solstice off into
Speaker 1: a separate company.
Speaker 2: This stock Movers report from Bloomberg Radio. Check back with
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