July 10 (Reuters) - South Korean chipmaker SK Hynix 000660.KS, which raised $26.5 billion in the largest U.S. share sale by a foreign issuer, will start trading on the Nasdaq on Friday.

Here are some investor and analyst reactions to the listing.

SAM KONRAD, INVESTMENT MANAGER FOR ASIA EQUITY INCOME, JUPITER ASSET MANAGEMENT, SINGAPORE

"This (listing) could mean that the ADR trades at a premium to the local shares, but more importantly it could help re-rate the Korean-listed SK Hynix shares which are currently trading at a PE discount to Micron MU.O, whereas we think SK Hynix should trade at least on par with Micron’s valuation.

Hopefully, alongside the ADR listing, we will also get an updated shareholder returns plan from SK Hynix which should see a significant increase in their dividend and a buyback.

If SK Hynix re-rates that should help support a re-rating in Samsung Electronics 005930.KS too, especially when they release details of their shareholder return plans.

We currently have a larger position in Samsung Electronics than SK Hynix because we own the Samsung Elec Preference shares which trade at a deep valuation discount. We also like Samsung’s more diversified business, and see upside in their foundry operations in particular."

RICHARD CLODE, PORTFOLIO MANAGER, JANUS HENDERSON, UK

"The SK Hynix ADR listing is important as it provides U.S. and global investors who do not have access to local Korean stocks access to the leader in high bandwidth memory globally for the first time. Even for U.S. and global investors with access to Korea locally being able to trade the stock in a more friendly time zone is attractive in a more volatile, cyclical sector like memory."

GIUSEPPE SETTE, CO-FOUNDER, REFLEXIVITY, LONDON

"This is the purest large-cap way for U.S. investors to own the AI-memory theme, and Hynix deliberately picked Nasdaq to tap that demand and the higher valuations U.S. chip names command versus Seoul. SK Hynix gets its deal done on the strength of the story, but companies coming after it may face a tougher, more selective market."

THOMAS HAYES, CHAIRMAN AT GREAT HILL CAPITAL LLC, NEW YORK

"Global semiconductors is the most crowded trade in the world right now.

"The bankers and the issuer, in this case SK Hynix, are meeting demand where it is. They're seeing excessive valuations, and they want to take advantage of it."

JULIA HERMANN, GLOBAL MARKET STRATEGIST, NEW YORK LIFE INVESTMENT MANAGEMENT, NEW YORK

"New equity supply is increasingly concentrated in the market's most crowded theme. SK Hynix's ADR sale reinforces that investors are being asked to absorb additional exposure to semiconductors."