SK Hynix Lists on Nasdaq at $149 Per Share... Breaks Alibaba's Record for Largest Foreign Company IPO

▲ SK Hynix, US stock market, Nasdaq, Semiconductor/AI generated image

SK Hynix is making its Nasdaq debut at $149 per share, embarking on a massive fundraising campaign aimed at securing $26.5 billion. With public offering demand reaching seven times the supply, the market's attention is focused on how SK Hynix, boasting a 56.4% share of the global High Bandwidth Memory (HBM) market, will be valued on the U.S. stock exchange.

According to Beincrypto on July 10 (local time), SK Hynix has set the price of its American Depositary Shares (ADS) at $149 per share and began trading on Nasdaq today under the temporary ticker symbol SKHYV. The ticker symbol will change to SKHY starting next Monday. The company plans to raise approximately $26.5 billion, or about 40 trillion Korean Won, through this stock issuance, which will be invested in new factories and advanced equipment to meet the demand for AI semiconductors.

Although the scale is slightly less than the initial target of 43 trillion Korean Won, it is the largest ever for a foreign company listed on the U.S. stock market. It surpasses Alibaba's New York IPO record of $21.8 billion and is the second-largest global stock issuance, following SpaceX, which raised $75 billion on Nasdaq last month.

SK Hynix stated in documents submitted to U.S. securities authorities that it holds a 56.4% share of the global High Bandwidth Memory (HBM) market. HBM is used in Nvidia AI processors, and its price has remained at an all-time high throughout 2026 amidst surging AI memory demand. SK Hynix plans to use the raised funds to construct new semiconductor manufacturing plants and advanced packaging facilities in Korea and invest 11.9 trillion Korean Won in Extreme Ultraviolet (EUV) lithography equipment by the end of 2027.

Another point of interest is whether the gap in corporate value with Micron, a major competitor in the U.S. memory semiconductor market, will narrow. UBS supported a strategy of premium pricing for American Depositary Shares ahead of the Nasdaq listing, and during the public offering process, subscription demand reached seven times the supply. However, Daniel Newman, CEO of Futurum Group, warned, "The memory market always moves this way during major cycles or supercycles," adding, "The problem is that it always collapses very significantly afterward."

SK Hynix accounts for approximately 25% of the KOSPI, and its stock price on the Seoul exchange has also experienced significant fluctuations. In the U.S. market, key observation points include whether SK Hynix shares maintain a higher price level than its Seoul-listed shares and whether the semiconductor uptrend driven by AI memory demand continues.

[Article Key Summary]

-SK Hynix begins trading on Nasdaq at $149 per ADS, aiming to raise approximately $26.5 billion.

-SK Hynix secured a 56.4% share of the global High Bandwidth Memory market, and public offering demand reached seven times the supply.

-This stock issuance is the largest ever for a foreign company listed on the U.S. stock market and the second largest globally, following SpaceX.

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