SK Hynix raises $26.5 billion in biggest US foreign listing
What's next: The chipmaker plans to use the money for new factories and equipment as AI memory demand keeps climbing.
SK Hynix raised $26.5 billion after pricing its US depositary share offering at $149, in what reports described as the largest US listing by a foreign company. The South Korean memory-chip maker said 177.9 million American depositary shares, each representing one-tenth of a common share, will trade on Nasdaq under the ticker SKHY. Investor demand was more than seven times the shares available, underscoring strong appetite for one of Nvidia's key suppliers as the AI buildout drives a shortage in high-bandwidth memory chips. SK Hynix said the proceeds will fund new factories and equipment, while the US listing could also help narrow its valuation gap with US rival Micron.