SK Hynix's US listing raises a total of $26.5 billion, becoming the third-largest IPO in US history

CoinFeed July 10 news, according to Bloomberg, South Korean memory chip maker SK Hynix completed its American depositary receipt issuance, raising a total of $26.5 billion, at $149 per share, issuing 177.9 million ADRs, surpassing Alibaba to become the third-largest IPO in US history, only behind Alibaba's $25 billion record. The offering price was about 3% premium to Seoul stock's Thursday closing price, oversubscribed by more than seven times, nearly half of the ADRs were subscribed by the top ten order accounts, demand approaching $200 billion. SK Hynix holds a 57% share in the global HBM market, this issuance comes at a time of AI infrastructure investment boom, the company will participate with Samsung Electronics in the South Korean government-led $880 billion investment plan. The ADRs are expected to begin regular trading on July 13.