Hynix's shares indicated to jump 20% in marquee US debut

Hynix’s U.S. Nasdaq debut is positioned to jump about 20% after its $26.5 billion U.S.-listed share sale, underscoring continued investor appetite for semiconductor bets tied to the AI boom. On July 10, SK Hynix was said to have ADRs indicated to open at $180 per share versus an offer price of $149, a 2.7% premium to the ADR’s recent Seoul average. The company, based in Icheon, South Korea, has already pulled off a rally of roughly 630% versus a year ago, despite a quarter off its record high reached two weeks earlier. The offering is described as the second-largest U.S. share sale after SpaceX’s IPO, with more than sevenfold oversubscription. As the world’s largest HBM memory maker, Hynix supplies memory chips crucial for GPUs from Nvidia and AMD. Micron, its U.S.-based rival, is up 711% over 12 months.