SK Hynix $26.5B Nasdaq Listing and Global M&A Battle
M&A/IPO | Sun Jul 12 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 8 sources
SK Hynix achieved the largest US IPO by a foreign company at $26.5 billion, while major deals involving Paramount-WBD, MGM, and EasyJet were active.
Analysis
[SK Hynix] achieved the largest US IPO ever by a foreign company with a $26.5 billion Nasdaq listing [3][6][8]
- Second-largest Wall Street IPO ever
- following SpaceX
- ADR offering price $149
- trading around $170 on the first day
- Subscription demand was seven times the supply
- Began trading on Nasdaq under ticker SKHYV
[SK Hynix] emerged as the leading global memory stock backed by dominance in the AI HBM market [8]
- 56.4% global HBM market share in Q1 2026
- Q1 2026 revenue of $34.5 billion
- exceeding half of the 2025 annual figure
- Stock up over 630% on the Korea Exchange over the past year
- Concentration risk with the largest customer accounting for about 24% of 2025 revenue
[Paramount Skydance] resumed the $110 billion acquisition process of Warner Bros. Discovery [7]
- Oregon Attorney General withdrew the motion to delay the merger
- Regulatory hurdles for the mega deal eased
- One of the largest M&A deals in the media industry
[MGM Resorts] opened acquisition talks with Barry Diller's People media group [5]
- People (PPLI) proposed to acquire casino giant MGM
- Media-entertainment crossover deal
- One of the major deals of the week
[Warburg Pincus] neared a $7 billion acquisition of PANTHERx Rare [4]
- Deal valued at approximately $7 billion
- Reported by WSJ
- Major PE-led M&A in the healthcare sector
[EasyJet] drew a bidding war between two US private equity firms [1]
- Unusual PE interest in the volatile
- low-margin airline industry
- Competition between two US-based funds
- Deal outside the typical PE investment space
[Circle] saw CRCL shares surge after securing Trust Bank charter [2]
- Obtained regulatory approval to operate as a trust bank
- CRCL shares trending upward
Sources
- [1] EasyJet Has Private Equity Firms Going Out of Their Comfort Zone - Bloomberg Markets
- [2] Circle Can Now Operate as a Trust Bank. CRCL Stock Is Soaring. - Yahoo Finance
- [3] SK Hynix raises $26.5 billion in Wall Street's second-biggest IPO ever, trailing only SpaceX - Yahoo Finance
- [4] Warburg Pincus nears $7 billion deal for PANTHERx Rare, WSJ reports - Yahoo Finance
- [5] Key deals this week: MGM, PERF, VRTX, and more - Seeking Alpha Market News
- [6] Bulls vs. Bears: SK Hynix jolts analysts amid record-setting IPO - Seeking Alpha Market News
- [7] Oregon reportedly drops motion against Paramount’s Warner bid - Seeking Alpha Market News
- [8] SK Hynix's Nasdaq Debut Just Became the Largest U.S. Listing by a Foreign Company - The Motley Fool