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SK Hynix Raises $26.5B in Record Overseas IPO on Nasdaq, Stock Surges 17% on Debut

GateNews
Stocks
SK Hynix-0.27%
SKHYV-0.98%
NDAQ0.65%
BABA1.01%
According to ChainCatcher and Cailian Press, SK Hynix made its U.S. debut on Nasdaq on Thursday (July 10) as an American Depositary Share (ADS), with shares surging approximately 17% on opening and the company reaching a market cap of $128 billion. The offering raised $26.5 billion, setting a new record for the largest capital raise by an overseas company listing in the U.S., surpassing Alibaba's $21.8 billion IPO in 2014. SK Hynix priced the offering at $149 per share, representing a modest 3.1% premium to Wednesday's closing price on Korean exchanges. As the global leader controlling 56.4% of the HBM memory market, the company's listing fills a key gap in U.S. equity markets for AI-driven storage solutions.
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