SK Hynix, the South Korean memory chipmaker that quietly became one of the most important companies in the AI supply chain, is about to make a very loud entrance on Wall Street. The company filed its F-1 registration with the SEC on June 24 and is targeting a Nasdaq listing that could raise approximately $29 billion.
That figure would make it one of the largest US listings ever by a foreign entity. For context, Saudi Aramco’s 2019 IPO raised about $25.6 billion on the Saudi exchange.
The mechanics of the deal
SK Hynix plans to issue up to 17.79 million new shares as American Depositary Receipts, representing roughly 2.5% of its total equity. Bookbuilding is scheduled to kick off on July 6, with final pricing expected on July 9 and trading under the ticker SKHY anticipated to begin on July 10.
The company already trades on the Korea Exchange under ticker 000660.KS, where its shares have surged alongside the broader semiconductor rally fueled by AI demand. This Nasdaq listing represents a secondary listing, not a departure from its home market.
