When a company raises $28 billion and investors still want more, that tells you something. SK Hynix’s American Depositary Receipt offering on Nasdaq drew demand exceeding the available shares by more than seven times, making it one of the largest equity raises globally in 2026.
The South Korean memory chipmaker plans to issue 17.79 million new shares through the offering, with each ADR representing ten common shares. Pricing is expected after the local market close on July 9, 2026, with trading set to begin the following day.
Why institutions are rushing in
Roughly 1,000 institutions participated in the roadshow, which ran from July 6 through July 8. Cornerstone investors indicated interest in up to $7 billion combined. Names like Baillie Gifford, Coatue Management, and Situational Awareness Partners were among those anchoring the deal.
SK Hynix holds approximately 57% of the global high-bandwidth memory market by revenue as of the fourth quarter of 2025. It is also a primary supplier to Nvidia, the company that has essentially become the infrastructure backbone of the AI boom.
