South Korea’s SK Hynix plans to make its U.S. debut with an investment of 29 billion dollars
Given the growth in its business due to the increasing demand for artificial intelligence, SK Hynix, the third-largest memory chip manufacturer in the world. Announced that it intends to raise $29 billion on the Nasdaq, marking the South Korean giant’s U.S. stock market debut in what could be one of the largest initial public offerings in history.
In a document filed with the Securities and Exchange Commission (SEC) on Tuesday, SK Hynix declared its plan to list on the Nasdaq beginning on July 10 under the ticker symbol «SKHY» by issuing American Depositary Receipts (ADRs), which are certificates of ownership of shares in a foreign company.
According to the chipmaker, 17.79 million new shares worth $29,650 billion would be issued. Each common share will be represented by ten ADRs.
The IPO «will strengthen our position as a global company by expanding our presence in the United States. In the epicenter of technological innovation in artificial intelligence,» according to a news release from SK Hynix.
The sale is being managed by Bank of America, JPMorgan Securities, Goldman Sachs, and Citigroup Global Markets.
As AI developed globally, SK Hynix, Samsung, and Micron all saw rapid growth. According to Bloomberg, at the end of the fourth quarter of 2025, SK Hynix held about 57% of the worldwide high-bandwidth memory market. The South Korean giant’s stock has risen 281% so far this year and more than 800% over the previous 12 months.
ADRs are used to list other foreign semiconductor companies in the United States. TSMC, the sixth-largest corporation in the world by market value, started issuing ADRs in 1997.
