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SK Hynix IPO to give US investors bigger bite of the memory pie as shortages persist
Yahoo Finance • • general
Key Points:
- SK Hynix is set to finalize the price for its Nasdaq US public trading debut, offering 177.9 million American depositary shares (ADS) under the ticker SKHY, with demand reportedly seven times oversubscribed.
- The company aims to raise $28 billion in what would be the largest foreign listing in history, to expand manufacturing capacity amid soaring global demand for memory and storage chips driven by AI development.
- SK Hynix's stock has surged dramatically, rising 174% in six months and 636% over the past year on the Korea Exchange, though memory stocks recently entered a bear market.
- The firm holds a dominant 56.4% share of the high-bandwidth memory (HBM) market, a critical technology for AI chip performance, alongside competitors Micron and Samsung, all of which partner with Nvidia.
- The IPO provides US investors with greater access to SK Hynix shares, which were previously difficult to purchase directly on US markets.
