SK Hynix Launches Record $28 Billion US Nasdaq Offering — Debut July 10

What happened

SK Hynix officially launched its US IPO on July 6, 2026, offering 177.9 million American Depositary Shares (ADS) on Nasdaq under ticker SKHY at ~$158.26/ADS. The $28.13 billion total offering is the largest-ever US stock sale by a foreign company, surpassing Alibaba's 2014 IPO and Saudi Aramco's 2019 record.

Context and impact

SK Hynix is a primary beneficiary of the AI memory boom — its High Bandwidth Memory (HBM) chips are critical components in Nvidia's AI accelerators. Revenue surged ~200% YoY in Q1 2026 and Korean shares are up ~260% YTD. The Nasdaq listing gives US retail and institutional investors direct access to the leading AI memory manufacturer.

Details

• Offering: 177.9M ADS at ~$158.26 each (1 ADS = 1/10 ordinary share), ticker: SKHY
• Expected Nasdaq debut: July 10, 2026
• Cornerstone investors: Baillie Gifford, Coatue, Situational Awareness Partners — interest in up to $7B of ADS
• Lead banks: BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan
• Proceeds allocation: ~$20.2B for Yongin fab, ~$12.4B for advanced packaging, ~$7.8B for EUV equipment
• SK Hynix market cap has exceeded $1 trillion; shares up ~280% YTD