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A visitor walks past the logo of SK hynix during the Korea Electronics Show 2025 at the COEX convention and exhibition centre in Seoul on October 22, 2025. Jung Yeon-je | Afp | Getty Images
SK Hynix, South Korea’s most valuable company, plans to raise around $29 billion on the Nasdaq by issuing American depositary receipts (ADRs), according to the firm’s regulatory filing.
The company plans to issue 17.79 million new shares at a value of 45.45 trillion won ($29.65 billion).
SK Hynix said it expects to start trading on July 10, but added that the dates were tentative and subject to change.
The firm added that it anticipates that the ADR listing will expand its investor base, “ultimately allowing its true corporate value to be properly evaluated.”
“We expect to elevate our status as a global company by broadening our touchpoints in the United States, the epicenter of AI technological innovation,” SK Hynix said in the filing.
SK Hynix is expanding rapidly to accommodate soaring demand for AI. It’s building a massive new campus of memory chip fabrication plants in South Korea, known as the Yongin Cluster, which is set to begin coming online in 2027, as well as building in the U.S. for the first time with a $4 billion packaging plant in Indiana.
A host of large banks are managing the offering, including BofA Securities, Citigroup Global Markets, Goldman Sachs and JP Morgan Securities, according to Reuters.
AI has created a global memory shortage as high-performance systems gobble up large amounts of general-purpose DRAM to make what’s known as high bandwidth memory, or HBM. SK Hynix holds about 60% of the HBM market share, according to Counterpoint research director MS Hwang.
“What is clear is that SK is definitely the top notch player in HBM. And it is better in cost of manufacturing. So its operating margin is the best. So it has the best product, lowest cost. What do you need else?” Hwang told CNBC in an interview on June 17.
Shares in SK Hynix have soared over 280% this year, propelling its market capitalization above $1 trillion as investors piled into companies seen as key beneficiaries of the global scramble for HBM chips.
Samsung Electronics and SK Hynix together account for more than 40% of South Korea’s benchmark Kospi, raising concerns that the market could become more exposed to risks, including supply chain disruptions and a slowdown in global data center investment.
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