SK Hynix plans $29 billion Nasdaq ADR listing in 2026
Key takeaways
- In scale, the offering would eclipse both Alibaba's 2014 U.S. listing and Saudi Aramco's $25.6 billion IPO from 2019, according to Reuters.
- BofA Securities, Citigroup Global Markets, Goldman Sachs, and J.P.
- Among SK Hynix's biggest customers are Nvidia and Alphabet's Google, both of which rely on the company's high-bandwidth memory chips for their AI infrastructure.
SK Hynix plans $29 billion Nasdaq ADR listing in 2026 Quartz · Nur Photo / Getty Images Cris Tolomia Wed, June 24, 2026 at 6:57 PM GMT+7 2 min read 000660.KS BABA 2222-SABE.SR MU SK Hynix filed with the SEC on Wednesday to raise approximately $29.65 billion through an American depositary receipt listing on the Nasdaq, in what would rank among the largest share sales in history.
Trading is expected to begin July 10, the company said, with up to 17.79 million new shares to be issued at a value of 45.45 trillion won. Each common share will be represented by ten ADRs, and Tuesday's closing price of 2.555 million won per share will serve as the basis for an initial range, with final pricing set following the bookbuilding process.
In scale, the offering would eclipse both Alibaba's 2014 U.S. listing and Saudi Aramco's $25.6 billion IPO from 2019, according to Reuters. SK Hynix said in the filing that it expects the ADR listing to expand its investor base and that it anticipates trading on Nasdaq alongside rival Micron Technology will give it the opportunity to be valued in line with U.S. peers. "We expect to elevate our status as a global company by broadening our touchpoints in the United States, the epicenter of AI technological innovation," the company said in the filing.