SK Hynix prices Nasdaq ADR listing at about $29B

SK Hynix is targeting a Nasdaq listing of American depositary receipts priced at 255,000 won, or about $166, in a transaction expected to raise roughly 45.45 trillion won, or $29.4 billion. The company said the offering is scheduled to begin trading on July 10, although the date remains tentative and could change after bookbuilding.

The listing would be one of the largest U.S. equity offerings ever by a foreign company, and Reuters said the deal is structured as a secondary listing on Nasdaq rather than a traditional IPO. SK Hynix said it plans to use the proceeds to expand capacity, including investments tied to its Yongin semiconductor cluster, advanced packaging in Cheongju, and chip-making equipment.

Bank of America, Citigroup, Goldman Sachs, and JPMorgan are leading the offering. The move is intended to broaden SK Hynix’s investor base and improve valuation access in the U.S. market, where demand for AI memory chips has helped make the company one of the most closely watched names in the semiconductor sector.