[New York = E-Daily Kim Sang-yoon Correspondent] Bloomberg reported on the 9th (local time) that SK hynix(000660)has set its initial public offering (IPO) price for a listing on the U.S. Nasdaq at $149 per American Depositary Receipt (ADR). Despite recent volatility in its stock price, the company has set a price higher than the closing price on the Korean stock market, signaling its determination to maintain its corporate value.

Citing multiple sources, Bloomberg reported that SK hynix is informing investors of an initial public offering price of $149 per ADR for its U.S. listing.
This price is approximately 3.1% higher than the closing price of common stock on the Seoul Stock Exchange that day. SK hynix common stock closed at 2,186,000 won (approximately $1,445) per share on the Korean stock market that day.
According to a filing submitted earlier to the U.S. Securities and Exchange Commission (SEC), one ADR is equivalent to one-tenth of a common share.
However, Bloomberg reported that sources said the terms of the offering could still change, as final discussions are still underway.
If the offering price is finalized at $149 per ADR, the total amount raised would reach approximately $26.5 billion. This would surpass Alibaba’s $25 billion offering in 2014 and is expected to be the largest initial public offering (IPO) by a foreign company in U.S. history.
This IPO is proceeding amid increased stock price volatility in the memory semiconductor sector, as the recent investment frenzy surrounding artificial intelligence (AI) has cooled somewhat.
As of today, SK hynix’s stock price has fallen by about 25% from the all-time high it reached in late June, but it remains more than three times higher than it was at the beginning of this year. Micron, its U.S. competitor, has also experienced significant stock price volatility amid concerns over a slowdown in AI investment expectations.
The market expects the public offering to be a success without major issues. The ADRs being sold in this offering total 177.9 million shares (equivalent to 17.79 million common shares), and Bloomberg previously reported that the offering was oversubscribed by more than seven times.
Investor demand is reportedly concentrated among large institutional investors, including global long-term investment funds, technology-focused funds, sovereign wealth funds, and global investment institutions specializing in Asia.
In particular, firms such as Baillie Gifford, Coatue Management, and Situational Awareness Partners are reported to have expressed intent to invest up to $7 billion.
Bank of America (BofA), Citigroup, Goldman Sachs, and JPMorgan served as joint lead underwriters for this offering.
SK hynix ADRs will begin conditional trading (when-issued trading) on the Nasdaq Global Select Market under the ticker symbol “SKHYV” starting on the 11th, and are scheduled to begin regular trading under the ticker symbol “SKHY” starting on the 13th.