[SK Hynix Completes ADR Offering in the U.S., Raising $26.5 Billion and Setting Record for Foreign IPOs in the U.S.] BlockBeats News, July 10: South Korean semiconductor company SK Hynix has completed its American Depositary Receipt (ADR) offering in the U.S., raising $26.5 billion. This marks the largest initial public offering (IPO) by a foreign company in the U.S. and the third-largest listing in global securities history. SK Hynix issued a total of 177.9 million ADRs, priced at $149 each, with each ADR representing one-tenth of its common stock traded on the Korean stock exchange. The final offering price represents a premium of approximately 3% over the closing price in Korea. According to the transaction arrangement, SK Hynix ADRs will begin pre-trading on the Nasdaq Global Select Market under the temporary ticker symbol "SKHYV" on Friday and are scheduled to transition to the official ticker symbol "SKHY" for regular trading on July 13. The offering was led by Bank of America, Citigroup, Goldman Sachs, and JPMorgan, with participation from nine other firms. Market feedback indicates that the offering was oversubscribed by more than seven times, with total subscription intentions nearing $200 billion. Asset management firms such as Baillie Gifford, Coatue Management, and Situational Awareness Partners participated in the subscription, with the top ten orders accounting for nearly half of the shares. SK Hynix aims to narrow the valuation gap with U.S. competitors like Micron Technology by listing on the U.S. stock market and leveraging the overseas capital premium to enhance corporate value. As a core supplier of high-bandwidth memory (HBM) for NVIDIA, SK Hynix has already secured a significant market share in this field. Meanwhile, U.S. Commerce Secretary Howard Lutnick stated that discussions are underway with Samsung Electronics and SK Hynix, urging the two South Korean memory chip manufacturers to expand production in the U.S. to strengthen the resilience of the domestic chip supply chain. [Original Link]