SK Hynix prices US IPO at $149 per ADS, aiming to raise $28B

SK Hynix priced its US IPO at $149 per American Depositary Share, selling 177.9 million ADS (equivalent to 17.79 million shares) to trade on Nasdaq as SKHY and aiming to raise about $28 billion—the largest foreign listing in history. Demand reportedly seven times the shares, with the funds earmarked to expand memory-chip manufacturing to meet AI-driven demand for high-bandwidth memory (HBM) and storage chips; the company is a leading HBM supplier with a sizable market share, giving US investors easier access to the memory stock boom.