SK Hynix to raise up to $30bn in US listing

24th Jun 2026 12:58

(Sharecast News) - South Korean chip manufacturer SK Hynix is seeking to raise nearly $30bn through a blockbuster US listing, it was confirmed on Wednesday.

In a regulatory filing, the business - which had its primary listing on the Korea Exchange - said it plans to raise up to $29.4bn by issuing American deposit receipts (ADRs) on Nasdaq. A total of 17.79m new shares will be issued, with initial trading tentatively slated for 10 July.

SK Hynix is hoping to cash in on booming investor demand for artificial intelligence. It is the leading supplier of high-bandwidth memory (HBM) chips used in AI systems by companies such as Nvidia and Alphabet, both of which are customers.

As a result its value has soared and earlier this week the firm overtook Samsung to become South Korea's most valuable listed company. The share price has rocketed nearly 2000% over the last five years, and 826% in the last year alone.

It is currently building a vast manufacturing complex known as the Yongin Cluster in South Korea. But also intends to open a $4bn packaging plant in Indiana, its first in the US.

SK Hynix said the US listing would expand its investor base, adding: "We expect to elevate our status as a global company by broadening our touchpoints in the US, the epicentre of the AI technological innovation."

If successful, the deal would be the second-largest share sale after SpaceX's recent record debut, Reuters noted.