SK Hynix just pulled off something that would make most IPO bankers weep with joy. The South Korean memory chip manufacturer’s $28 billion American Depositary Receipt offering on Nasdaq was so heavily oversubscribed that underwriters shut the books early, closing order-taking at 4 p.m. New York time on July 8.
What happened and why it matters
SK Hynix issued 17.79 million new ADRs, with each receipt representing one-tenth of a common share. The listing ranks among the largest share sales globally in 2026, trailing only SpaceX’s recent record-setting IPO in terms of sheer scale.
By listing in the US, SK Hynix taps into the deepest capital market on the planet and makes itself directly accessible to the American institutional investors who have been throwing money at anything adjacent to the AI supply chain.
Semiconductor stocks saw pre-market gains following the announcement.
