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SK Hynix has set the offering price for its American Depositary Receipts (ADRs) on the US stock market at $149 per share. / Courtesy of SK Hynix

The public offering price for SK Hynix’s American Depositary Receipts (ADRs) has been finalized at $149 per share. Analysts note that exceptionally strong demand—drawing more than seven times the available shares—helped lock in the high offering price.

On July 10 (local time), SK Hynix announced that it had set its ADR offering price at $149 (approximately 225,000 won). Given that SK Hynix common stock closed at 2,186,000 won (approximately $1,445) on the Korean stock market the previous day, the converted ADR price carries a premium of about 3%. One SK Hynix ADR represents one-tenth of a share of its domestic common stock.

With the offering price locked in, SK Hynix is set to raise approximately $26.5 billion. According to foreign media outlets like Bloomberg, this surpasses the $25 billion raised by China’s Alibaba Group during its 2014 debut, making it the third-largest stock listing in history and the largest-ever US IPO by a foreign enterprise. Among all US IPOs, it ranks as the second largest on record, following SpaceX ($85.7 billion).

SK Hynix will begin conditional trading today under the ticker symbol SKHYV, before transitioning to regular trading under the ticker symbol SKHY on July 13. The public offering process is scheduled to wrap up on July 14.

                                                                                                              Lee Ji-sun