# SK hynix opens Nasdaq chapter with record $26.5b offering > Source: > Published: 2026-07-10 13:53:09+00:00 SK hynix marked its entry into the US stock market Friday with an opening-bell ceremony at Nasdaq, opening a new channel to global investors after completing a record $26.5 billion share offering. SK Group Chairman Chey Tae-won, SK hynix CEO Kwak Noh-jung and other senior executives attended the event at the Nasdaq MarketSite in New York’s Times Square. The company said its American depositary receipts began trading on a when-issued basis under the temporary ticker SKHYV. The first transaction price and trading volume were not immediately available. Regular-way trading under the ticker SKHY is scheduled to begin Monday. Kwak called the listing a “truly historic day” for SK hynix, tracing the chipmaker’s path from financial distress a quarter-century ago to its present position at the center of the artificial intelligence boom. “AI will be everywhere, and wherever AI goes, SK hynix will be there,” he said. Kwak said the US listing would bring the company closer to the customers, partners and talent shaping the next generation of computing. It would also make SK hynix easier to own for investors who have faced practical barriers to buying its Seoul-listed shares. “For many global investors, investing in SK hynix has not always been simple,” he said. “Our ADR listing makes that access easier.” SK hynix sold 177.9 million ADRs at $149 each, with every 10 receipts representing one common share traded in Seoul. The price was about 2.9 percent above the company’s Thursday closing price in Korea, an unusual premium for a large equity offering. Orders during the book-building process exceeded the available shares by more than seven times, according to Bloomberg on Thursday. The deal surpassed Alibaba’s $25 billion New York listing in 2014, making it the largest US share offering by a foreign company. The Nasdaq debut comes at a less certain moment for semiconductor stocks. SK hynix’s Seoul shares have fallen about 25 percent from a record reached two weeks ago as investors reassess the pace and eventual returns of spending on AI infrastructure. On Friday, the stock climbed more than 5 percent to an intraday high of 2.305 million won before reversing course. It closed 0.27 percent lower at 2.18 million won as investors took profits. The decline contrasted with a broader rally in Korean chip shares. Samsung Electronics gained 2.52 percent, while the Kospi also advanced 2.52 percent following overnight strength in US semiconductor stocks. Trading in New York will give investors their first direct measure of how SK hynix is valued alongside US-listed chipmakers. Despite its lead in high-bandwidth memory, the company has historically traded at a lower earnings multiple than US rival Micron Technology. The ADRs allow investors to buy dollar-denominated exposure to SK hynix through US brokerage accounts. Whether they develop a lasting premium over the Korean shares will depend partly on the strength of US demand and how easily the two securities can be converted into each other. SK hynix plans to use the proceeds to expand production in Korea, including its first fabrication plant at the Yongin semiconductor cluster and an advanced packaging facility in Cheongju. Kwak said the company would be guided by trust, innovation and growth as it starts its next chapter. “Leadership is not a title,” he said. “It is something we must earn every single day.” The offering is expected to close Tuesday, with the underlying new common shares due to be listed in Seoul around July 29. mjh@heraldcorp.com