Meet SK Hynix as it hits Nasdaq in a $28B mega debut
SK Hynix is debuting on U.S. markets via a Nasdaq ADR offering expected to raise about $28–$29 billion, and demand has already topped seven times the shares available. For hynix, the move matters because it broadens access to U.S. investors while funding new factories and equipment tied to the AI memory boom.
Key Takeaways
- Big demand: Reuters reported the ADR offering was more than seven times oversubscribed.
- Massive scale: The U.S. share sale is around $28 billion, with final pricing set for Thursday.
- How it trades: Ten ADRs represent one common share, with Nasdaq trading slated for July 10.
- Why now: CNBC says the company’s market cap is around $1 trillion after its stock rose more than sevenfold over the past year.
What exactly happened with hynix’s U.S. market debut?
South Korea’s SK Hynix is set to begin trading on the Nasdaq on Friday through American depositary receipts (ADRs), CNBC reported. Reuters said the company planned to set the final price of the ADR offering on Thursday, with the ADRs starting to trade on July 10.
The deal is huge by any measure: Reuters described it as a roughly $28 billion U.S. share sale, and CNBC said the company planned to raise around $29 billion via ADRs, citing a regulatory filing.
Why was the hynix ADR deal more than seven times oversubscribed?
Demand for the offering was more than seven times the available shares, according to Reuters, citing a person familiar with the matter—an immediate signal of investor appetite for a company seen as pivotal to the AI supply chain.
Reuters also reported that ten ADRs will represent one common share. It added that a Monday filing gave a reference price of 242,500 won per ADR, based on SK Hynix’s July 3 closing price in Seoul, and noted the stock closed at 2,186,000 won on Thursday.
On the investor side, Reuters said SK Hynix disclosed interest from Baillie Gifford Overseas and investment funds managed by Coatue Management and Situational Awareness Partners, with the three indicating interest in purchasing up to a combined $7 billion of U.S. ADRs.
What is hynix doing in the U.S.—and why does it matter beyond stocks?
CNBC tied the Nasdaq debut to a broader U.S. expansion push. It reported that SK Hynix is building a $4 billion production facility in Indiana—its first U.S. production facility—scheduled for completion in 2028, and that the plant will be used for advanced packaging, a key step in producing high-bandwidth memory by connecting and stacking chips.
CNBC also reported the company is growing its Solidigm business near Sacramento, California. Solidigm, CNBC said, makes NAND flash memory and was purchased from Intel in 2021 for $9 billion; it is headquartered in Rancho Cordova, California, where it develops products such as solid state drives.
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How big is hynix right now, and what changed?
CNBC said SK Hynix’s market cap is hovering around $1 trillion and that the company is the second most valuable in South Korea, behind only Samsung. CNBC also reported the stock has risen more than sevenfold over the past year, citing a global memory crunch as a driver.
In plain terms, the U.S. debut is landing at a moment when investors are paying close attention to the hardware bottlenecks behind AI—and SK Hynix sits squarely inside that narrative.
For more on the debut itself, see CNBC’s report, Meet SK Hynix, the trillion-dollar chipmaker debuting on U.S. markets, and Reuters’ coverage of demand, SK Hynix’s US listing more than seven times oversubscribed, source says.