SK Hynix targets $149 ADR price as it prepares Nasdaq debut Friday

SK Hynix plans to price its US listing at $149 per American depositary receipt, targeting a $26.5 billion IPO that would surpass Alibaba as the largest foreign company debut on a US exchange. The Korean memory chipmaker's Nasdaq listing, set to begin trading Friday under symbol SKHYV, comes amid volatile AI-driven chip stocks but strong institutional demand.

SK Hynix targets $149 ADR price as it prepares Nasdaq debut Friday The Korean memory chipmaker’s US listing could raise about $26.5 billion, topping Alibaba as the largest first time US share sale by a foreign company. SK Hynix is telling investors it plans to price its US listing at $149 per American depositary receipt, Bloomberg reported https://www.bloomberg.com/news/articles/2026-07-09/sk-hynix-said-to-guide-us-offering-price-3-1-above-korea-close Thursday, even as shares of the Korean memory chipmaker continue to swing after a massive AI driven rally. At that level, the ADRs would price about 3.1% above SK Hynix’s Thursday close in Seoul. Each ADR represents one tenth of a common share, according to an earlier filing with the US Securities and Exchange Commission. The offering would raise about $26.5 billion at the planned price, making it the largest first time US share sale by a foreign company, according to Bloomberg. That would put SK Hynix ahead of Alibaba’s $25 billion debut. The listing comes during a volatile stretch for AI linked chip stocks. SK Hynix shares closed Thursday about 25% below their late June record, though the stock remains more than triple where it started the year. Micron and other memory names have also been hit by sharp moves as investors reassess the pace of the AI infrastructure trade. Demand for the deal remains strong. Bloomberg previously reported that the sale of 177.9 million ADRs, representing 17.79 million common shares, was more than seven times oversubscribed. Institutional demand has come from global long only funds, technology focused funds, sovereign wealth funds and Asia focused investors. SK Hynix has also attracted indications of interest from Baillie Gifford, Coatue Management and Situational Awareness Partners for as much as $7 billion worth of ADRs. The offering is being led by Bank of America, Citigroup, Goldman Sachs and JPMorgan, with nine other firms also involved. The ADRs are set to begin when issued trading Friday on the Nasdaq Global Select Market under the symbol SKHYV, before switching to SKHY when regular trading begins July 13. The listing adds another marker to South Korea’s AI chip boom, which has been driven by demand for high bandwidth memory used in advanced AI systems. SK Hynix and Samsung are also expected to increase investment under a South Korean government initiative aimed at strengthening the country’s AI and semiconductor leadership. Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy https://cryptobriefing.com/editorial-policy/ .