SK Hynix, the South Korean semiconductor powerhouse that controls roughly 57% of the global high-bandwidth memory market, just landed on the Nasdaq. The company’s American Depositary Receipt listing under the ticker SKHY went live on July 10, raising approximately $28 to $29 billion and instantly becoming one of the largest foreign ADR offerings in US market history.
For US investors who wanted exposure to the company supplying memory chips for nearly every major AI GPU on the planet, the previous path involved navigating the Korean exchange, dealing with currency conversion, and stomaching something analysts call the “Korean discount.” That friction is now gone.
What the listing looks like
Each SK Hynix ADR was priced at approximately $149, with 10 ADRs representing one common share of the company. The offering structure involved 17.79 million new shares, and the company had quietly set the wheels in motion months earlier with a confidential filing to the SEC back in March 2026.
Before this listing, Micron Technology was the only major memory competitor with a primary US listing. That meant institutional investors benchmarking the memory sector had one readily accessible option. Now they have two, sitting side by side on the same exchange, practically begging for direct comparison.
