South Korean chipmaker SK Hynix successfully raised $26.5 billion in its New York share offering, making it the largest listing by a foreign company in the US. The company, a major supplier to AI chip giant Nvidia, sold 177.9 million American depositary shares (ADSs) for $149 each. These shares are scheduled to begin trading on the Nasdaq, with conditional trading starting on Friday under the ticker symbol “SKHYV” and regular trading under “SKHY” expected to begin on Monday.
This offering surpasses Alibaba's $25 billion New York listing in 2014, establishing a new record for a foreign company's US IPO. It also stands as the second-largest IPO in US market history, behind SpaceX's roughly $85.7 billion offering. The proceeds from this listing will be used to expand production capacity, funding projects such as the first fabrication plant at the Yongin semiconductor cluster, the P&T7 advanced packaging plant in Cheongju, and the purchase of
