SK Hynix, the world’s second-largest memory chipmaker, is preparing to raise as much as $29.4 billion through an American Depositary Receipt listing on Nasdaq. If the deal goes through at that size, it would rank among the largest ADR offerings in history.
The company plans to issue approximately 17.79 million new shares, with trading expected to begin on July 10. BofA Securities, Citigroup Global Markets, Goldman Sachs, and JP Morgan Securities are underwriting the deal.
Why a US listing, and why now
Many US institutional funds face restrictions on holding foreign-listed stocks. An ADR listing removes that barrier entirely, giving pension funds, index trackers, and large asset managers a clean way to buy in.
SK Hynix already trades on the Korea Exchange, and its stock has surged more than 300% year-to-date in 2026. The company recently overtook Samsung to become South Korea’s most valuable firm.
