SK Hynix Debuts on Nasdaq with 17% Gain, Raises Record $26.5B for Overseas IPO

SKHYV-0.98%
BABA1.01%
NVDA4.06%
According to Caixin Global, SK Hynix officially listed on Nasdaq as American Depositary Shares on Thursday, with its stock price rising approximately 17% after opening and reaching a market capitalization of $1.28 trillion. The company raised $26.5 billion in this offering, setting a record for the largest IPO fundraising by an overseas company in the U.S., surpassing Alibaba's $21.8 billion offering in 2014 and ranking second in U.S. history behind SpaceX's $75 billion financing. SK Hynix holds 56.4% of the global HBM memory market share and is deeply integrated into Nvidia's supply chain, filling a gap in the U.S. stock market for an AI memory leader.
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