The South Korean chipmaker raised $26.5 billion in a record U.S. share sale, signaling renewed Asian tech interest in Wall Street listings.
SK Hynix completed the largest-ever U.S. listing by a foreign company, raising $26.5 billion through the sale of 177.9 million American depositary receipts at $149 each. The offering surpassed Alibaba’s 2014 debut and ranks among the top share sales globally, trailing only a handful of blockbuster listings like SpaceX’s recent offering.
Demand for the shares was strong, with orders reportedly seven times oversubscribed. Early indications suggested the stock could open 17% above its offering price, reflecting robust investor appetite. The deal marks a revival of Asian tech firms seeking U.S. listings, which often command higher valuations than domestic markets.
Bankers anticipate more Asian semiconductor and technology companies may follow SK Hynix’s lead, potentially reshaping cross-border investment flows. The move underscores Wall Street’s appeal as a funding hub for global tech giants.