SK hynix has completed the largest-ever foreign company IPO in U.S. history, raising $26.5 billion in its Nasdaq debut today, July 10. The South Korean memory giant sold 177.9 million American depositary receipts (ADRs) — a U.S.-listed stand-in for a foreign share — at $149 apiece, each representing a tenth of a Seoul-listed share. The offering was more than seven times oversubscribed and drew demand from more than 500 investment firms, according to Financial Times . Temporary Nasdaq trading is underway under the ticker SKHYV before regular-way trading begins as SKHY on Monday, July 13.

The offering was led by Bank of America, Citigroup, Goldman Sachs, and JPMorgan, with nine additional firms rounding out a 13-bank syndicate.…