SK Hynix, the South Korean memory chip giant, is targeting roughly $28 billion in net proceeds from its upcoming American depositary receipt listing on Nasdaq. That figure makes this one of the largest foreign company offerings the US market has ever seen.
The company plans to issue 17.79 million new shares, with ten ADRs representing one common share. Trading is expected to begin as early as July 10, 2026, giving US investors direct access to a company that controls over 60% of the high-bandwidth memory market.
What SK Hynix is actually selling
The company filed with the SEC on June 24 and launched the offering on July 6. At announcement, the total raise was pegged at approximately $29 billion, with net proceeds landing around $28 billion after the usual underwriting fees and expenses.
Demand for HBM products has been surging as companies race to deploy AI infrastructure at scale. Nvidia’s GPUs, which dominate the AI training market, rely heavily on SK Hynix’s memory technology. In June 2026, the two companies announced a multiyear partnership to co-develop next-generation AI memory technologies.
