The South Korean memory chip maker aims to raise about $28 billion through a Nasdaq listing as demand for AI infrastructure continues to grow.
South Korean memory chip maker SK Hynix plans to launch a U.S. listing to raise about $28 billion, one of the world’s largest share sales, as it seeks to capitalize on strong global demand for artificial intelligence (AI) chips, according to Reuters.
The company will sell 17.79 million new shares through American Depositary Receipts (ADRs) on Nasdaq, with ten ADRs representing one common share. The final listing price is expected to be set on 9th July 2026 before trading begins on 10th July 2026.
The proceeds will be used to increase chip manufacturing facilities in South Korea and procure semiconductor equipment, including extreme ultraviolet (EUV) lithography systems from ASML.
SK Hynix, a key supplier of high-bandwidth memory (HBM) chips used in AI systems by companies including Nvidia and Google, has emerged as one of the biggest beneficiaries of the AI boom. Despite a recent decline of about 4% in its share price, the stock has gained roughly 273% this year.
“This is more than a liquidity event,” Dave Mazza, Chief Executive Officer of Roundhill Investments, told Reuters, adding that the listing will make SK Hynix more accessible to U.S. institutional investors.
Analysts expect the Nasdaq listing to improve the company’s global investor reach and could help narrow its valuation gap with U.S.-based rival Micron. HSBC also recently raised its valuation outlook, citing better accessibility and stronger shareholder-friendly initiatives.
