SK Hynix Inc. targets $29.43 billion through Nasdaq share offering on July 10
SK Hynix Inc. chairman Chey Tae-won and CEO Kwon Oh-jung announced plans on Wednesday to raise up to $29.43 billion (45.45 trillion won) through a Nasdaq Global Select Market listing. The South Korean semiconductor giant filed its registration statement on June 24, 2026, with the U.S. Securities and Exchange Commission (SEC) and South Korea’s Financial Supervisory Service to issue American Depositary Receipts (ADRs).
The company, currently listed on the Korea Exchange under the ticker “000660,” expects trading on the Nasdaq to commence as soon as July 10, 2026. This capital injection is specifically earmarked for a massive expansion of artificial intelligence (AI) chip production capacity, including high-bandwidth memory (HBM) and advanced packaging facilities.
Strategic shift to US markets for AI capital
The offering involves up to 17.79 million newly issued common shares, with 10 ADRs representing one common share under the proposed ticker “SKHY.”
By listing on the Nasdaq Global Select Market, SK Hynix Inc. aims to diversify its investor base and achieve a valuation that more closely mirrors its global peers, such as Micron Technology. The company stated the U.S.
remains the “center of AI innovation,” making it the ideal venue to strengthen its position as a global entity. This move comes at a time when traditional finance must move on-chain or adapt to faster capital markets to support rapid technological shifts.
Key details
The indicative price for the listing is 255,500 won per ADR, a figure based on the common share closing price of 2.555 million won recorded on June 23, 2026. A heavyweight consortium including BofA Securities, Citigroup, Goldman Sachs, and J.P. Morgan Securities is managing the offering.
The final pricing and size of the deal will be determined through institutional bookbuilding, which is scheduled to begin on July 7, 2026.
While many firms face valuation hurdles, recent shifts such as the Lincoln International valuation correction show how market transitions can impact perceived corporate value. For SK Hynix Inc., the move to a U.S. exchange is a direct attempt to escape the lower multiples often associated with the South Korean market and align with the high-growth expectations of the AI sector.
Expansion of the Yongin Semiconductor Cluster
Management has committed the entire sum raised from the Nasdaq listing to facilities and equipment. A major portion of this investment will support the Yongin Semiconductor Cluster. The company has already pledged 31 trillion won ($21.5 billion) for the initial phase of the first fab (Y1) at this site.
This complex is central to the firm’s strategy to bolster its 57% revenue market share in the HBM sector.
In addition to the Yongin site, SK Hynix Inc. is investing 19 trillion won ($12.9 billion) into the Cheongju P&T7 advanced packaging plant. Packaging technology has become a critical differentiator in AI hardware, and this facility will allow for more efficient production of high-performance memory.
Key details
Such large-scale industrial commitments are often reflected in broader economic shifts where valuation rises after EPS beats guidance, as investors reward clear spending on future capacity.
Advanced equipment and technical leadership
To maintain its technical edge, the company is also investing heavily in cutting-edge manufacturing tools. In March 2026, SK Hynix Inc. placed a record $7.9 billion order with ASML for extreme ultraviolet (EUV) scanners. This agreement covers roughly 30 scanners through 2027, which are essential for manufacturing high-density DRAM chips. The company currently holds a 32% share of the global DRAM market.
The financial health of the company remains robust as it enters this expansion phase. In the first quarter of 2026, SK Hynix Inc. reported an operating profit of 37.61 trillion won ($25.4 billion), which surpassed the average analyst estimate of 35.7 trillion won. Revenue for the same period nearly tripled year-over-year to 52.58 trillion won, while net profit sat at 40.3 trillion won.
Timeline for the Nasdaq Global Select debut
The road to the July 10 debut follows a strict regulatory and administrative schedule. Following the June 24 filing, the regulatory review is expected to conclude by July 3, 2026. Once the registration statement takes effect, the institutional bookbuilding phase begins on July 7.
The final pricing and the formal underwriting agreement are slated for completion on July 10, the same day trading is expected to start.
The settlement for the offering is scheduled for July 14, 2026. Following the U.S. launch, the company must register the newly issued shares on the Korea Exchange, a process currently scheduled for July 29, 2026. Citigroup is serving as the depositary bank for the ADRs, while the Korea Securities Depository will act as the custodian for the underlying shares.
This massive fundraising effort is part of a broader pledge made in early June 2026 to significantly increase production capacity. The company’s focus on AI-centric hardware positions it as a critical infrastructure provider for global tech firms.
With its current market value estimated between $1.1 trillion and $1.2 trillion, the Nasdaq listing represents one of the largest financial maneuvers in the history of the semiconductor industry.