Top Midday Stories: SK Hynix Marks Record-Setting Debut in US Market; Meta Faces $2 Billion Manus Deal Rollback

All three major US stock indexes were up in late-morning trading Friday as investors anticipated the US market debut of South Korean chipmaker SK Hynix. In company news, South Korean semiconductor company SK Hynix has listed its American depositary receipts on the Nasdaq, the company said Friday. The chipmaker set the price of its initial public offering on the Nasdaq at $149 per American depositary share and looks to raise about $26.5 billion, ranking as the largest US stock sale in history by a company based out of the US. SK Hynix sold 177.9 million ADRs, equal to 17.79 million common shares, or about 2.5% of its total issued and outstanding share capital. The offer was seven times oversubscribed, with more than 500 investment firms looking to buy shares. from the Financial Times. The offering is expected to close on Tuesday. Meta Platforms (META) is facing a major rollback of its $2 billion acquisition of artificial intelligence start-up Manus as Tencent moves to lead a deal to unwind the takeover after Beijing ordered it reversed, the Financial Times reported Friday, citing sources familiar with the talks. Tencent, together with other entities,.