SK hynix sets ADR offering price at $149 per share

SK hynix has set its American depositary receipt offering price at $149 per share ahead of its planned US listing on Friday.

Bloomberg reported Thursday that the chipmaker priced its ADR offering at $149 per share.

That is about 3.1 percent above the ADR-equivalent value of SK hynix's closing price of 2.186 million won ($1,445) on the Korean stock market Thursday.

According to a filing with the US Securities and Exchange Commission, one ADR share corresponds to one-tenth of a common SK hynix share.

However, sources said the offering terms have not yet been finalized and could change.

If the $149 price is confirmed, the total amount raised would reach approximately $26.5 billion, surpassing Alibaba's initial public offering, which raised $25 billion, to become the largest US listing by a foreign company in history.

The deal would set a record as the biggest US stock market listing by a foreign company ever.