SK Hynix raises $26.5B in the biggest foreign IPO in US history, is urged to build new US fabs The AI chip boom just produced its biggest Wall Street moment yet. SK Hynix, a South Korean memory chip giant, said Friday it has raised $26.5 billion (KRW 40 trillion) in its U.S. market debut. SK Hynix sold 177.9 million Am...
Key Takeaways
- SK Hynix sold 177.9 million American depositary shares (ADRs) at $149 each, structured so U.S
- Investors can buy in at roughly a tenth of what a full share costs in Seoul
- Debut by a non-American company, topped Alibaba’s $25 billion IPO in 2014