South Korean chipmaker SK Hynix debuted on the Nasdaq on Friday, July 10. The offering raised $26.5 billion, marking the largest U.S. initial public offering by a foreign company in history. SK Hynix priced its American depositary receipts (ADRs) at $149 per share.
The company is a dominant global producer of high-bandwidth memory (HBM) chips used in AI processors. An ongoing artificial intelligence frenzy fueled massive investor demand for the listing.
Shares began trading on a when-issued basis under the ticker SKHYV. Regular trading under the ticker SKHY will commence on July 13.