SK Hynix to price US IPO at $149 per depository share: Report

SK Hynix (000660.KS) set the price of its American depositary shares (ADS) at $149 each ahead of its US public trading debut on the Nasdaq on Friday, Reuters and Bloomberg reported.

The initial public offering (IPO) consists of 177.9 million ADS, also called American depositary receipts, each representing one-tenth of a share of the company's common stock, or 17.79 million shares, that will trade under the ticker symbol SKHY beginning Monday.

Demand for the US sale is running at seven times the available shares, per reports from Reuters, underscoring the huge interest in a share sale seen as the largest first-share sale ever.

By Daniel Howley

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