A visitor passes the SK hynix logo at the Korea Electronics Show 2025, held at the COEX convention and exhibition center in Seoul on October 22, 2025.
Jung Yeon-je | AFP | Getty Images
SK Hynix, South Korea’s most valuable company, is looking to raise about $29 billion on the Nasdaq through the issuance of American depositary receipts, or ADRs, according to a regulatory filing by the chipmaker.
The company intends to issue 17.79 million new shares, valued at 45.45 trillion won, equivalent to roughly $29.65 billion.
SK Hynix said it expects trading to begin on July 10, while noting that the timeline remains provisional and could be revised.
The company said the ADR listing is expected to broaden access to global investors and “ultimately” help ensure its corporate value is more accurately reflected in the market.
“We expect to elevate our status as a global company by broadening our touchpoints in the United States, the epicenter of AI technological innovation,” SK Hynix said in the filing.
SK Hynix has been accelerating its expansion to meet surging demand tied to artificial intelligence. The company is developing the Yongin Cluster, a vast memory-chip manufacturing hub in South Korea expected to begin operations in 2027, and is also making its first U.S. manufacturing push with a $4 billion packaging facility in Indiana.
A host of large banks are managing the offering, including BofA Securities, Citigroup Global Markets, Goldman Sachs and JP Morgan Securities, according to Reuters.
AI has created a global memory shortage as high-performance systems gobble up large amounts of general-purpose DRAM to make what’s known as high bandwidth memory, or HBM. SK Hynix holds about 60% of the HBM market share, according to Counterpoint research director MS Hwang.
“What is clear is that SK is definitely the top notch player in HBM. And it is better in cost of manufacturing. So its operating margin is the best. So it has the best product, lowest cost. What do you need else?” Hwang told CNBC in an interview on June 17.
Shares in SK Hynix have soared over 280% this year, propelling its market capitalization above $1 trillion as investors piled into companies seen as key beneficiaries of the global scramble for HBM chips.
Samsung Electronics and SK Hynix together account for more than 40% of South Korea’s benchmark Kospi, raising concerns that the market could become more exposed to risks, including supply chain disruptions and a slowdown in global data center investment.
