Memory chip giant SK Hynix has launched a $28.07 billion U.S. listing through American Depositary Receipts (ADRs) on the Nasdaq.
The offering ranks among the world’s largest share sales and is expected to strengthen the company’s access to U.S. investors while funding its next phase of AI-driven expansion, Reuters news report said.
SK Hynix will issue 17.79 million new shares through the ADR offering, with 10 ADRs representing one common share. The final ADR price will be determined on July 9, and trading is scheduled to begin on July 10. The proceeds will be used to expand semiconductor manufacturing capacity in South Korea and purchase advanced chipmaking equipment, including extreme ultraviolet (EUV) lithography systems.
The company has become one of the biggest beneficiaries of the AI boom, driven by strong demand for high-bandwidth memory (HBM) chips used in AI accelerators and data centers. Despite its shares falling about 4 percent on Monday amid broader market weakness, SK Hynix stock has surged approximately 273 percent in 2026, significantly outperforming many semiconductor peers. South Korea’s KOSPI index declined 2.2 percent during the same session.
The Nasdaq listing follows South Korea’s announcement of a $576 billion national investment strategy focused on semiconductors and artificial intelligence. SK Hynix and Samsung Electronics will serve as anchor companies in the initiative, which aims to strengthen the country’s leadership in advanced chip manufacturing and AI infrastructure.
South Korea President Lee Jae Myung has directed officials to accelerate the rollout of semiconductor and AI projects, warning that delays in land acquisition, permitting, power, and water infrastructure could weaken South Korea’s competitive position.
U.S. listing will narrow the valuation gap between SK Hynix and U.S.-listed semiconductor companies such as Micron Technology by making the stock more accessible to American institutional and retail investors. Several global investment firms, including Baillie Gifford, Coatue Management, and Situational Awareness Partners, have reportedly expressed interest in purchasing up to $7 billion worth of the offering.
The fundraising also supports SK Hynix’s investment strategy.
SK Hynix plans to invest 100 trillion won (approximately $64.4 billion) in its Cheongju semiconductor campus to expand its semiconductor manufacturing capabilities. The investment includes 80 trillion won (about $51.5 billion) for the construction of the M17 NAND flash memory fabrication plant, with construction set to begin next year and commercial operations targeted for the first half of 2029. The company will invest 20 trillion won (about $12.9 billion) in an advanced chip packaging facility, which is expected to be completed by late 2027, reinforcing its position as a leading supplier of AI memory chips for customers such as Nvidia and Google.
BABURAJAN KIZHAKEDATH