SK Hynix wants $28 billion from U.S. investors, and it is only willing to part with 2.5% of the company to get it.
South Korea’s second-largest memory chipmaker announced plans on July 6, 2026, to list American Depository Receipts on the Nasdaq under the ticker SKHY. The target raise sits at approximately $28 billion, adjusted slightly downward from an earlier goal of around $29 billion. Trading is expected to begin July 10, with final pricing set for July 9 to 10.
The deal structure, explained
SK Hynix will issue 17.79 million new shares for the offering, representing 2.5% of the company’s total equity. Each ADR will correspond to one common share, with a 10-to-1 trading ratio, meaning 10 ADRs represent one common share on the Seoul Stock Exchange.
The ADR pricing will be pegged to SK Hynix’s existing Seoul listing, so there is a built-in reference point rather than a traditional IPO price discovery process.
