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New York, United States – South Korean memory chipmaker SK Hynix Inc. completed its Nasdaq debut in New York on Friday, July 10, raising $26.5 billion in the largest-ever U.S. initial public offering by a foreign company. The company priced 177.9 million American depositary shares at $149 each, lifting the deal above Alibaba’s $25 billion New York float in 2014 and setting a new record for an overseas issuer listing in the United States. SK Hynix’s American depositary receipts opened at $170 and closed at $168.01, marking a gain of 12.76% from the offering price after climbing as much as 17% during intraday trading, underscoring strong investor demand for exposure to the memory chip sector. New York, United States – SK Group Chairman Chey Tae-won described the Nasdaq debut as a “historical moment” for the company and said access to the global capital market would provide SK Hynix with “a lot of financial options” as it pursues its growth plans. The listing came as U.S. Commerce Secretary Howard Lutnick urged South Korean chipmakers Samsung and SK Hynix to accelerate memory chip production in the United States to help ease a global shortage of components vital for artificial intelligence development, though he did not disclose details of the discussions. Broader U.S. equity markets also advanced on Friday, with the S&P 500 gaining 0.4%, the Nasdaq 100 rising 0.3%, and the Dow Jones Industrial Average adding 150 points, while LSEG data showed SK Hynix trading at about 5.8 times forward earnings compared with Micron at roughly seven times.

Prepared by Christopher Adams and reviewed by editorial team.