① SK Hynix plans to issue depositary receipts on the Nasdaq Global Select Market to raise approximately $29.4 billion, with the related securities expected to begin trading on the U.S. stock market on July 10.
② The company stated that the proceeds will be used entirely for facility investments, including the construction of the first-phase wafer fab of the Yongin semiconductor cluster and the Cheongju P&T7 advanced packaging plant, as well as investments in equipment such as EUV lithography machines.
June 24 news: The latest filings show that SK Hynix plans to issue depositary receipts (DRs) on the Nasdaq Global Select Market to raise 45.45 trillion won (approximately $29.4 billion).
On Wednesday local time (June 24), the electronic disclosure system (DART) of the Financial Supervisory Service of Korea published the filing submitted by SK Hynix. The semiconductor giant expects the related securities to begin trading on July 10.
Source: DART
The filing mentions that each depositary receipt of SK Hynix corresponds to 0.1 share of Korean common stock, with an issue price of 255,500 won per share (based on the closing price of 2.555 million won per share on June 23 on the Korean stock market), for a total size of 45.45 trillion won.
According to data compiled by media, if the transaction size of SK Hynix reaches this level, it will become one of the largest stock issuance transactions in history, comparable to Saudi Aramco’s record IPO in 2019.
The filing shows that the offering is led by Bank of America, Citigroup, Goldman Sachs Group, and JPMorgan Chase. The Korea Securities Depository (KSD) is responsible for the custody of the underlying shares, and Citibank serves as the overseas depositary.
SK Hynix stated that the proceeds will be used entirely for facility investments, including the construction of the first-phase wafer fab of the Yongin semiconductor cluster, the construction of the Cheongju P&T7 advanced packaging plant, equipment and related expenses, and investments in equipment and facilities such as EUV lithography machines.
A week ago, Chey Tae-won, chairman of South Korea’s SK Group, disclosed that the company was considering a U.S. listing for SK Hynix. “I believe this move can target U.S. and global shareholders and make the company more globalized,” he said.
Currently, SK Hynix, Samsung Electronics, and Micron Technology are the three major suppliers in the global high-bandwidth memory (HBM) market, occupying a key position in the global AI infrastructure buildout, and their products have become an important bottleneck for data center expansion.
According to Counterpoint Research, SK Hynix accounted for 57% of the global HBM market by revenue in the fourth quarter of 2025. As of Wednesday’s close, SK Hynix’s stock price had risen by about 300% cumulatively.
Even so, SK Hynix’s valuation (forward price-to-earnings ratio) remains lower than that of Micron Technology and Samsung Electronics.
Therefore, a US listing would open new sources of investor funding for the company and help narrow the valuation gap between it and its competitors.
