SK Hynix To Raise $26.5 Billion in US IPO

July 9, 2026

South Korean memory chip giant SK Hynix has priced its massive U.S. initial public offering (IPO) at $149 per American Depositary Receipt (ADR). The company is raising $26.5 billion, making it the largest-ever foreign stock listing on a U.S. exchange.

Key Offering Details
Launch Date: Public trading kicks off on Friday, July 10, 2026.

Ticker Symbols:Traded under temporary ticker SKHYV on a "when-issued" basis on Friday, July 10.

Switches to the regular ticker SKHY on Monday, July 13, 2026.

Share Structure: The offering consists of 177.9 million ADRs, where 10 ADRs represent 1 common share of the primary Seoul-listed stock (KRX: 000660).

Massive Demand: The offering closed seven times oversubscribed due to institutional frenzy for companies driving the artificial intelligence infrastructure boom. Key anchor buyers include Coatue Management and Baillie Gifford.

Core Strategic Focus
Capital Allocation: Proceeds will fund domestic semiconductor production plants in South Korea and purchase cutting-edge Extreme Ultraviolet (EUV) lithography scanners from ASML.

Market Dominance: SK Hynix controls over 50% of the global high-bandwidth memory (HBM) market. This makes it the primary chip partner for Nvidia's high-end AI data center processors.

Valuation Strategy: The Nasdaq cross-listing aims to close the historical "Korea discount" trading gap. It gives the trillion-dollar company direct exposure to the deep capital pools of U.S. markets.