SK hynix seals record $26.5b Nasdaq ADR listing

SK hynix has priced its Nasdaq offering of American depositary receipts at $149 apiece, setting the deal at about $26.5 billion.

The South Korean memory chipmaker said Friday it would offer 177.9 million ADRs, with each receipt representing one-tenth of a common share traded in Seoul.

The offer price translates into a roughly 2.9 percent premium to SK hynix’s closing price of 2.19 million won ($1,450) on the Korean stock market Thursday.

Large equity offerings are typically priced at a discount