SK Hynix completes $26.5bn US share sale, marking biggest foreign IPO on Nasdaq

SK Hynix raised $26.5 billion (≈£19.8 bn) in its New York share offering, establishing the largest foreign‑listed IPO ever on US markets.

The company sold 177.9 million American depositary shares at $149 per share, with trading on the Nasdaq set to begin on Friday.

In May, SK Hynix’s market capitalization exceeded $1 trillion in South Korea, driven by soaring demand for AI chips.

The firm’s share price has more than tripled in South Korea this year, and together with Samsung Electronics it has lifted the Kospi index by over 70% during the same period.

Each American depositary share represents one‑tenth of a Seoul‑listed common share, SK Hynix said.

SK Hynix ranks among the world’s leading producers of advanced memory chips that power AI infrastructure, including data centers.

Demand for the offering exceeded seven times the number of shares available, reflecting strong investor appetite for a key player in the AI supply chain.

The IPO provides U.S. investors direct access to SK Hynix shares without the need to trade on an overseas exchange.

It also gives the company easier access to substantial capital from the world’s largest economy.

SK Hynix has previously announced plans to invest in expanding South Korea’s chip manufacturing and AI capabilities over the coming years.

In June, the South Korean government unveiled plans for over $880 billion in investments, in partnership with SK Hynix and Samsung.

Both SK Hynix and Samsung now boast market capitalizations exceeding $1 trillion, joining a growing cohort of tech giants such as Nvidia, Apple, Microsoft, and Alphabet (Google).

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