SK hynix Leads US IPO Proceeds With $26.5 Billion Listing

South Korean semiconductor firm SK hynix dominated initial public offering (IPO) proceeds in the US for the quarter ending September 30, raising $26.5 billion through its listing of American depositary receipts.

The third quarter was the second busiest for US IPO proceeds since 2021. However, issuance slowed in September as investors grew more selective despite record-high stock indexes.

The broader market jitters also impacted other potential listings. Finland-based Oura Health, a maker of smart rings for health and wellness, delayed its US IPO on September 29 amid general market caution.

SK hynix's significant listing supported the year's IPO market performance, which has seen an 8.8% weighted-average increase. Investors are now closely watching the anticipated IPO of AI firm Anthropic, reportedly shifted to November, to gauge if demand can extend beyond a few large AI-related deals.