SK Hynix raised $26.5 billion in the largest U.S. market debut for a foreign company. The offering surpasses Alibaba’s 2014 record of $25 billion. The South Korean chipmaker priced 177.9 million American depositary receipts (ADRs). Each ADR is priced at $149. This valuation represents a 3% premium over domestic shares.
The shares will trade on the Nasdaq under the ticker SKHY. Investors oversubscribed the offering by more than seven times.
Demand reflects the company's role as a lead supplier of high-bandwidth memory (HBM) chips. These components are essential for AI accelerators used by companies like Nvidia. SK Hynix will use the capital to finance new factories and expand production capacity.