Nasdaq debut ranks among world’s largest share offerings as company expands semiconductor investments
SEOUL: South Korean semiconductor manufacturer SK hynix raised $26.5 billion through its Nasdaq listing on Friday, marking one of the world’s largest-ever public share offerings as the artificial intelligence boom continues to drive strong investor demand for advanced memory chip producers.
The company priced approximately 177.9 million American Depositary Shares (ADSs) at $149 each. Every ADS represents one-tenth of an ordinary share, allowing US investors to trade the company’s stock on the technology-focused Nasdaq exchange.
Investor appetite remained exceptionally strong, with reports indicating the offering was more than seven times oversubscribed. Although the fundraising total fell short of SpaceX’s record-breaking $75 billion initial public offering, it surpassed Saudi Aramco’s 2019 listing and Alibaba’s New York debut, making it one of the largest capital raises in global market history.
SK hynix has benefited significantly from surging demand for high-bandwidth memory (HBM) chips, which power artificial intelligence servers alongside advanced processors. The company supplies key memory components to Nvidia and other leading AI technology firms, helping fuel a sharp rise in earnings and market value.
AI boom strengthens investor confidence
The successful listing comes despite recent volatility across global technology stocks, where concerns over elevated valuations have increased. Nevertheless, analysts said the offering reflects continued confidence in long-term AI infrastructure investment and the expanding memory chip market.
SK hynix shares also gained on South Korea’s Kospi index following the announcement, while the company’s market capitalisation has already surpassed the $1 trillion mark this year.
Expansion plans accelerate
The company said proceeds from the listing will finance construction of its first fabrication plant in the new Yongin semiconductor cluster and an advanced chip packaging facility in Cheongju.
Meanwhile, SK hynix continues participating alongside Samsung Electronics in South Korea’s large-scale semiconductor investment programme aimed at strengthening the country’s leadership in advanced chip manufacturing. The initiative seeks to expand production capacity while meeting growing global demand for AI-related technologies and next-generation memory solutions.
