by Coinstrooper Crypto Articles
Quick Take
  • SK Hynix priced its American depositary shares at $149 each.
  • Trading begins today, July 10, on the Nasdaq under the temporary ticker SKHYV.
  • The stock converts to its permanent ticker, SKHY, on Monday.
  • It also ranks as the world’s second-largest stock sale on record after SpaceX.

What Happened

Why Investors Are Watching Closely

SK Hynix will spend the proceeds on a new fabrication plant and an advanced packaging facility in South Korea. The company will also invest 11.9 trillion won in new EUV lithography equipment by the end of 2027.

Investors will now watch whether SK Hynix holds a premium over its Seoul-listed shares. They will also watch whether the memory rally still has room to run.

Market Context

SK Hynix priced its American depositary shares at $149 each. Trading begins today, July 10, on the Nasdaq under the temporary ticker SKHYV. The stock converts to its permanent ticker, SKHY, on Monday.

SK Hynix holds 56.4% of the global high-bandwidth memory market, according to its US securities filing. These chips power Nvidia’s AI processors, and surging demand for AI memory has kept prices at record highs through 2026.

Meanwhile, in Seoul, SK Hynix’s stock price has been facing volatility alongside the KOSPI where it holds a weighting of approximately 25%.

Micron remains SK Hynix’s main US rival in memory chips. Analysts expect the Nasdaq listing to narrow the valuation gap between them, after Micron’s market cap rally this year.

Why It Matters

UBS has told clients to expect a premium. It backs an ADR premium trade ahead of today’s debut.

Not everyone expects the boom to last.

The post SK Hynix Lists on Nasdaq Today at $149: What to Expect appeared first on BeInCrypto.

Details

The South Korean memory chipmaker aims to raise about $26.5 billion (around 40 trillion Won) through the offering, with the funds intended to finance new factories and equipment to meet surging demand for AI chips.

The figure SK Hynix was initially aiming for has been reduced slightly, but even so, the sale still ranks as the largest-ever US equity debut by a foreign company. It also ranks as the world’s second-largest stock sale on record after SpaceX.

The offering surpasses Alibaba’s $21.8 billion New York IPO. It trails only SpaceX’s Nasdaq debut last month, which raised $75 billion.

“This is how memory always acts in any megacycle or supercycle… The problem is, it always crashes hard.”

Daniel Newman, CEO, Futurum Group

What Comes Next for SK Hynix

SK Hynix shares should open later today. Demand ran seven times the available supply during bookbuilding, according to reports of 7x demand.