South Korean memory-chip giant SK Hynix is preparing for one of the biggest stock market offerings ever by a semiconductor company, announcing plans to raise up to 45.45 trillion won (about $29.4 billion) through a Nasdaq listing of American Depositary Receipts (ADRs) in the United States. If completed at the planned size, the deal would rank among the largest equity offerings in global market history and could become the biggest ADR listing ever.
The company plans to issue about 17.8 million new shares, with trading expected to begin in early July after regulatory approvals and final pricing are completed.
The move comes as SK Hynix has become one of the biggest beneficiaries of the AI boom. The South Korean company is the world’s second-largest memory chip maker, behind Samsung Electronics, and has emerged as the leading supplier of High-Bandwidth Memory (HBM) chips. These advanced memory chips are essential for AI systems because they allow huge amounts of data to move quickly between memory and processors. Estimates suggest SK Hynix currently controls around 55-60% of the global HBM market, putting it ahead of rivals Samsung and Micron in one of the fastest-growing segments of the semiconductor industry.
A major reason for the fundraising is the massive cost of expanding semiconductor production. Modern chip fabrication plants cost tens of billions of dollars to build, while the most advanced lithography machines supplied by Dutch equipment maker ASML can cost hundreds of millions of dollars each. SK Hynix plans to use the proceeds to expand manufacturing capacity, invest in advanced packaging technologies and strengthen its AI memory leadership. The company is already developing a large semiconductor complex in Yongin, South Korea, expected to become one of the country’s most important chip manufacturing hubs. It is also investing about $4 billion in an advanced chip-packaging facility in Indiana, marking a significant expansion of its US presence.
SK Hynix is entering the US listing from an exceptionally strong financial position. In the first quarter of 2026, the company reported record revenue of 52.58 trillion won (about $35.5 billion), nearly triple the level recorded a year earlier. Net income jumped to 40.34 trillion won, while operating margins reached a record 72%. Notably, the company is already listed on the Korea Exchange (KRX), where its shares have surged more than 300% in 2026 amid booming demand for AI memory chips.
However, the Nasdaq listing is also a strategic move to attract global investors. Many semiconductor companies listed in the United States receive higher valuation multiples than similar firms listed in Asia.
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Ashutosh is a Senior Writer at The Tech Portal, largely reporting on new tech, and intersection of technology and business. Ashutosh’s career spans across nearly a decade of technology writing across multiple platforms and languages.
