SK Hynix's IPO aims to raise $28 billion through ADRs in the U.S. market
The company seeks to expand its funding sources to support its investment plans, driven by the growing demand for high-bandwidth memory (HBM).
SK Hynix is the world's leading supplier of HBM memory, used in equipment intended for artificial intelligence.
Its early bet on this technology made it one of Nvidia's main suppliers, while, according to Counterpoint Research, during the fourth quarter of 2025, it captured 57% of the global HBM market measured by revenue.
According to regulatory documentation, SK Hynix's ADRs will begin trading on July 10 on the Nasdaq Global Select Market under the symbol SKHY.
The offering is led by Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase, along with nine other financial entities.
In the first quarter, SK Hynix reported a record operating profit of 37.61 trillion won, above the average analyst estimate of 35.7 trillion.
Additionally, sales reached 52.58 trillion won, and the company's shares have accumulated an increase of nearly 260% over the year, raising its market capitalization above US$1 trillion.
The initial public offering of SK Hynix in the United States officially began with an ADR offering valued at around US$28 billion. The operation aims to capitalize on investor interest in the memory chip business linked to artificial intelligence.
According to the documentation submitted to the U.S. Securities and Exchange Commission (SEC), the South Korean company expects its ADRs to start trading on July 10 on the Nasdaq Global Select Market under the symbol SKHY.
According to the documentation submitted to the SEC, SK Hynix will offer approximately 17.79 million American Depositary Receipts (ADRs), equivalent to one-tenth of a common share each.
The operation is valued at around US$28 billion, based on the closing price recorded by the company on the Seoul Stock Exchange last Friday.
If it proceeds as planned, the offering will rank among the three largest IPOs in history and will rival Saudi Aramco's IPO in 2019, which reached US$29.4 billion.
The SK Hynix IPO comes amid strong interest in companies involved in developing infrastructure for artificial intelligence.
According to Bloomberg, the offering has already received orders exceeding the number of available ADRs. Baillie Gifford, Coatue Management, and Situational Awareness Partners have expressed interest in acquiring shares worth up to US$7 billion.
