SK Hynix Confirms US IPO Offering Price at $149... Raises Record 40 Trillion Won for a Foreign Company

▲ SK Hynix/Source: X ©

SK Hynix has successfully raised the largest amount of capital in the history of US Initial Public Offerings (IPOs) for a foreign company, by confirming the offering price of its American Depositary Receipts (ADRs) for its US market listing at $149.

According to cryptocurrency media Watcher.Guru on July 9 (local time), SK Hynix was scheduled to confirm its final ADR offering price before commencing trading on the US Nasdaq market on the 10th. The company announced that it would begin trading under the conditional ticker 'SKHYV' and then officially trade under 'SKHY' starting from the 13th. SK Hynix explained that since it is already listed on the Korean stock market, it is entering the US market through an ADR method rather than a traditional IPO.

Subsequently, SK Hynix finalized its ADR offering price at $149 per share. One ADR is equivalent to one-tenth of a Korean common stock, and the offering price is approximately 2.9% higher than the closing price of common stock on the Korean stock market the previous day. The total capital raised through this offering is $26.507 billion (approximately 40 trillion won), surpassing Alibaba's $25 billion, making it the largest US IPO by a foreign company in history. It is also the second-largest US IPO overall, following SpaceX.

The media cited the continued boom in the memory semiconductor market due to the expansion of the artificial intelligence (AI) industry as a factor raising investment expectations for SK Hynix. In particular, its competitor Micron Technology's stock price has surged by approximately 630% this year and is currently trading around $948. In June, it hit an all-time high of $1,255, and Wall Street maintains an optimistic outlook for the semiconductor sector as a whole, with target prices reaching $2,000.

Watcher.Guru assessed that as AI infrastructure continues to expand, SK Hynix and Micron are highly likely to be key beneficiaries in the memory semiconductor market. As semiconductor companies supply core infrastructure for the AI era, both stocks could be promising investment opportunities from a long-term investment perspective.

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