SK Hynix plans $29B Nasdaq ADR listing on July 10, eyes HBM supply dominance
SK Hynix, the world's second-largest memory chipmaker, plans to raise approximately $29.43 billion through a Nasdaq listing of American Depositary Receipts (ADRs) on July 10, 2026, according to regulatory filings on June 24. The company will issue 17.79 million new shares at a value of 45.45 trillion won, with 10 ADRs representing one common share. BofA Securities, Citigroup Global Markets, Goldman Sachs, and JP Morgan Securities are managing the offering.
SK Hynix holds approximately 60% of the high-bandwidth memory (HBM) market share, making it the dominant supplier of memory chips used in AI data centers. The company supplies major customers including NVIDIA, Alphabet's Google, and other hyperscalers building AI infrastructure. The stock has surged over 280% this year, with SK Hynix's market capitalization now exceeding $1 trillion, and the company recently overtook Samsung Electronics to become South Korea's most valuable company.
The proceeds will fund chip fabrication facilities in Yongin and Cheongju, as well as purchases of extreme ultraviolet scanners and other chipmaking equipment. If the deal prices at the top of its indicated range, it will become the largest ADR offering in history, surpassing Alibaba's $21.8 billion 2014 debut. SK Hynix plans to double its total silicon wafer production capacity within five years and expects memory shortages to persist until 2030.
Sources
- Primary source
- cnbc.com
“SK Hynix, South Korea's most valuable company, plans to raise around $29 billion on the Nasdaq”
- thenextweb.com
“If the deal prices at the top of its range on July 10, SK Hynix will have written the largest ADR offering in history”
- sg.finance.yahoo.com
“SK Hynix said proceeds from the offering would be used to fund chip facilities”