Breaking

SK Hynix Launches Marketing for Up to $29.4B Nasdaq Listing

July 6, 2026 at 06:50 EDT

Infra & Chips
Funding & M&A

South Korean memory giant SK Hynix has kicked off the formal marketing process for its Nasdaq ADR listing. Through the issuance of 17.79 million new shares, it aims to raise up to $29.4 billion (about 45.45 trillion won), seeking direct access to US investors amid surging demand for AI memory.

July 6, 2026 · SK Hynix

SK Hynix Launches ~$29B Nasdaq Listing to Reach AI Investors

The leading HBM supplier to Nvidia kicks off marketing of American Depositary Receipts — potentially one of the largest-ever first-time share sales by a foreign company.

~$29B

Target proceeds (≈45.45tn won)

+260%

Seoul shares in 2026, value >$1T

17.79M

New common shares (ADR form)

Scale of the deal vs. the largest recent offering

~$29B

SK Hynix
listing

~$85B

SpaceX
offering

If completed, it would rank as the largest deal since SpaceX's ~$85B offering.

Timeline to Nasdaq

Jul 6

Marketing / roadshow begins

→

Jul 9

Pricing set

→

Jul 10

Trading starts on Nasdaq

Conversion: 10 ADRs = 1 common share · Bank fee ~0.5% of proceeds under consideration · Funds aimed at AI-related capital investment.

Bull case

Direct access to U.S. AI-focused capital for a key Nvidia supplier
Could narrow the Korean market valuation discount
ADR structure opens room for arbitrage

Watch points

Short-term dilution from newly issued shares
Market volatility tied to such a large sale
Thesis hinges on continued HBM demand

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