SK Hynix raises $26.5 billion in the largest US listing ever by a foreign company
A memory maker's Nasdaq debut hands Wall Street its cleanest claim yet on the AI hardware boom.
SK Hynix sold 177.9 million American depositary shares at $149 each, raising about $26.5 billion and eclipsing Alibaba's $25 billion New York debut in 2014 as the biggest US listing ever by a foreign company. The Korean memory maker begins when-issued trading on the Nasdaq today under the ticker SKHYV, with regular trading under SKHY due to start Monday. The offering lands as memory prices climb on AI demand, giving American investors a direct claim on the chips that feed the data center buildout.
