SK Hynix raises $26.5 billion in biggest US foreign listing
What's next: The Nasdaq debut gives the AI memory-chip supplier fresh capital for factories and equipment as data-center demand surges.
SK Hynix priced its US listing at $149 per American depositary share, raising about $26.5 billion in what reports described as the biggest US debut by a foreign company. The South Korean memory-chip maker sold 177.9 million depositary shares, each equal to one-tenth of a common share, and was more than seven times oversubscribed. Trading was set to begin on Nasdaq under the ticker SKHY. SK Hynix, a key supplier of high-bandwidth memory chips used with Nvidia processors, said the proceeds will help fund new factories and equipment. The deal comes as investors pour money into companies tied to the buildout of artificial intelligence data centers, even after recent volatility in semiconductor stocks.