{"id":64573,"date":"2026-07-10T12:08:16","date_gmt":"2026-07-10T16:08:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/sk-hynix-shatters-records-with-26-5b-u-s-ipo-uk-signals-tax-rises-for-defence\/64573\/"},"modified":"2026-07-10T12:08:16","modified_gmt":"2026-07-10T16:08:16","slug":"sk-hynix-shatters-records-with-26-5b-u-s-ipo-uk-signals-tax-rises-for-defence","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/sk-hynix-shatters-records-with-26-5b-u-s-ipo-uk-signals-tax-rises-for-defence\/64573\/","title":{"rendered":"SK Hynix Shatters Records with $26.5B U.S. IPO; UK Signals Tax Rises for Defence"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>SK Hynix (<a href=\"\/stock\/SKHY\">SKHY<\/a>)<\/strong> successfully raised <strong>$26.5 billion<\/strong> in its Nasdaq debut, marking the <strong>largest-ever U.S. initial public offering by a foreign company<\/strong>, surpassing Alibaba&#39;s 2014 record.<\/li>\n<li>Shares of the South Korean chipmaker opened at <strong>$170<\/strong>, a <strong>14% jump<\/strong> over the initial offer price of <strong>$149<\/strong>, reflecting intense investor appetite for AI-linked hardware.<\/li>\n<li>UK Culture Secretary <strong>Lisa Nandy<\/strong> indicated that <strong>tax increases<\/strong> are being discussed to fund a massive <strong>\u00a360 billion increase<\/strong> in defence spending over the next four years.<\/li>\n<li>The SK Hynix offering was <strong>more than seven times oversubscribed<\/strong>, with total orders reportedly reaching approximately <strong>$200 billion<\/strong> from major institutional investors.<\/li>\n<\/ul>\n<h2>SK Hynix Makes Historic Wall Street Debut Amid AI Frenzy<\/h2>\n<p>South Korean memory giant <strong>SK Hynix (<a href=\"\/stock\/SKHY\">SKHY<\/a>)<\/strong> made history on Friday, July 10, 2026, as its American Depositary Receipts (ADRs) began trading on the Nasdaq. The company priced its offering of <strong>177.9 million ADRs at $149 each<\/strong>, raising a staggering <strong>$26.5 billion<\/strong>. This figure officially crowns the deal as the largest U.S. IPO by a foreign issuer, eclipsing the <strong>$25 billion<\/strong> raised by Alibaba in 2014.<\/p>\n<p>Investor demand was overwhelming, with the book-building process recording oversubscription of more than <strong>seven times<\/strong>. Shares opened for conditional trading under the temporary ticker <strong>SKHYV<\/strong> at <strong>$170<\/strong>, representing a <strong>14% premium<\/strong> over the offer price. The stock is expected to transition to the permanent ticker <strong>SKHY<\/strong> on July 13, following the completion of the settlement process.<\/p>\n<p>The successful listing is seen as a strategic move to bridge the &quot;Korea Discount&quot;\u2014the valuation gap between SK Hynix and its U.S. rival <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/MU\" data-internallinksmanager029f6b8e52c=\"20\" title=\"Stock: MU\">Micron<\/a> Technology (<a href=\"\/stock\/MU\">MU<\/a>)<\/strong>. As the world\u2019s leading supplier of <strong>High-Bandwidth Memory (HBM)<\/strong>, a critical component for <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> AI accelerators, SK Hynix is leveraging its dominant <strong>56.4% market share<\/strong> in the HBM segment to attract global capital.<\/p>\n<h2>UK Government Weighs Tax Hikes to Secure Defence Budget<\/h2>\n<p>In London, the government is signaling a shift toward higher taxation to meet escalating security requirements. Culture Secretary <strong>Lisa Nandy<\/strong> hinted that &quot;discussions are ongoing&quot; regarding tax rises to support the <strong>Defence Investment Plan (DIP)<\/strong>. The plan aims to boost the UK&#39;s defence budget to <strong>3.5% of GDP by 2035<\/strong>, a target recently reaffirmed by Prime Minister Keir Starmer at the NATO summit.<\/p>\n<p>The funding gap is significant, with current estimates suggesting an additional <strong>\u00a315 billion<\/strong> is required for the DIP between 2026 and 2030. Analysts at the <strong>Office for Budget Responsibility (OBR)<\/strong> noted that the UK&#39;s tax-to-GDP ratio is already forecast to rise to <strong>43% by 2030-31<\/strong>. Treasury officials have warned that meeting the new defence commitments could necessitate the equivalent of <strong>3p to 4p on all rates of income tax<\/strong>.<\/p>\n<p>The move follows the high-profile resignation of former Defence Secretary <strong>John Healey<\/strong>, who stepped down over concerns regarding the lack of a clear funding path for military modernization. The government is currently evaluating departmental cuts alongside potential revenue-raising measures to address a <strong>\u00a34.7 billion funding gap<\/strong> identified in the current fiscal year&#39;s defence projections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways SK Hynix (SKHY) successfully raised $26.5 billion in its Nasdaq debut, marking the largest-ever U.S. initial public offering 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