South Korean semiconductor giant SK Hynix listed its American depositary shares on the Nasdaq stock exchange on Friday, July 10, 2026, after raising $26.5 billion to fund expansion amid soaring global demand for artificial intelligence memory chips.
The company sold 177.9 million American depositary shares (ADS), equivalent to 18 million ordinary shares, at $149 each.
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The shares trade under the temporary ticker SKHYV before switching to SKHY on Monday.
According to filings and reports, the historic sale stands as the largest-ever US equity debut by a foreign company and the world's second-largest stock sale on record, trailing only SpaceX's Nasdaq listing.
The chipmaker intends to utilize the proceeds to finance a new fabrication plant, an advanced packaging facility in South Korea, and 11.9 trillion won in new EUV lithography equipment by the end of 2027.
SK Hynix currently commands 56.4% of the global high-bandwidth memory market, supplying critical components for Nvidia's AI processors.
This helped drive its first-quarter net income to 40.34 trillion won.
Bookbuilding reports indicated that demand ran seven times the available supply, drawing massive interest even as the domestic Kospi index faced severe weekly volatility.
Analysts note the listing could narrow the valuation gap between SK Hynix and its primary US rival, Micron Technology.
Market Reception
Research strategist Dilin Wu at Pepperstone highlighted the exceptional market reception amid broader semiconductor sell-offs.
"Seven times oversubscribed, about $171bn in orders for a $24-28bn deal, and this happened while the semiconductor sector was actively selling off and the Kospi was in a circuit breaker week," said Wu.
