SK hynix is set to ring the Nasdaq bell. What its record US listing means for Korea

Chairman Chey Tae-won will not swing a hammer or pull a rope in New York on Friday morning.

He is expected to press a touchscreen.

At 9:30 a.m. Eastern time, or 10:30 p.m. in Seoul, the gesture will mark the Nasdaq debut of SK hynix’s American depositary receipts, giving US investors a direct dollar-traded route into the South Korean memory chipmaker.

SK hynix announced it has set the ADR price at $149 per share, with 177.9 million shares on offer.

The offering is expected to generate about $26.