SK hynix headquarters in Icheon, Gyeonggi Province (Newsis) SK hynix has priced its Nasdaq offering of American depositary receipts at $149 apiece, setting the deal at about $26.5 billion.The South Korean memory chipmaker said Friday it would offer 177.9 million ADRs, with each receipt representing one-tenth of a common share traded in Seoul.The offer price translates into a roughly 2.9 percent premium to SK hynix’s closing price of 2.19 million won ($1,450) on the Korean stock market Thursday.Large equity offerings are typically priced at a discount to prevailing market prices to attract investors, making the premium on the SK hynix deal unusual. The company described it as the only premium-priced initial public offering of its kind in US market history.Orders during the book-building process were more than seven times the number of ADRs on offer, according to market sources.Demand was said to have come from a broad group of institutional investors, including global long-only funds, technology-focused funds, sovereign wealth funds and Asia-focused investors.At $26.5 billion, the offering would surpass the $25 billion raised by Alibaba in its 2014 New York listing, which SK hynix said would make it the largest US IPO by a foreign company.The company also said the transaction would be the largest ADR offering on record and the second-biggest IPO in US market history, behind SpaceX’s roughly $85.7 billion offering.Conditional trading on the Nasdaq is scheduled to begin Friday under the ticker symbol “SKHYV.” Regular trading under “SKHY” is expected to start Monday, with the offering due to close Tuesday.Bank of America, Citigroup, Goldman Sachs and JPMorgan are acting as joint bookrunners.SK Group Chairman Chey Tae-won and SK hynix CEO Kwak Noh-jung are expected to attend an opening-bell ceremony at the Nasdaq MarketSite in New York’s Times Square on Friday.