Seoul, July 10 -- South Korean memory chipmaker SK hynix raised approximately USD 26.5 billion in its Nasdaq listing after pricing its American depositary receipts at USD 149 each, marking the largest US initial public offering by a foreign corporation.

The deal bypassed the previous USD 25 billion foreign record established by Alibaba during its 2014 New York listing. As per Korea Herald, the transaction stands as the largest American depositary receipt offering on record and the second-biggest initial public offering in US market history.

Conditional trading on the Nasdaq begins Friday under the ticker symbol "SKHYV," with regular trading scheduled for Monday.

In a statement regarding the deal structure, SK hynix announced that it wo...