TLDR
- SK Hynix has filed a Form F-1 with the SEC to list American Depositary Shares on Nasdaq under the ticker SKHY.
- The offering covers up to 17.79 million ADSs, about 2.5% of total outstanding shares.
- Reuters reports the company is targeting roughly $29.4 billion, with ADSs expected to price near $166 each.
- Proceeds are earmarked for new chip plants in South Korea and EUV lithography equipment.
- HSBC expects the Nasdaq listing to lift SK Hynix’s valuation by about 20%.
SK Hynix is moving closer to a Nasdaq listing. The South Korean memory chip maker filed a registration statement with the SEC on Tuesday for a public offering of American Depositary Shares under the symbol SKHY.
The filing covers up to 17.79 million shares, around 2.5% of the company’s total outstanding stock. That figure was chosen carefully, since it keeps SK Square, the company’s largest shareholder, above the 20% ownership threshold required by South Korean rules.
SK Hynix is one of the biggest suppliers of high-bandwidth memory, or HBM, chips to Nvidia. These chips are a key component in AI processors.
What The Money Is For
The company hasn’t locked in a final price yet. That will come from talks between SK Hynix and its underwriters, based on share price and market conditions at the time.
Reuters previously reported the company wants to raise about $29.4 billion, with ADSs expected to price around $166 each. BofA Securities, Citigroup, Goldman Sachs, and J.P. Morgan are running the offering as underwriters.
SK Hynix says the proceeds will go toward general corporate purposes, including capital spending. Earlier reporting points to two specific uses: building new semiconductor production facilities in South Korea and buying advanced Extreme Ultraviolet, or EUV, lithography equipment.
A separate SEC filing breaks down the numbers further. About 45.5 trillion won is earmarked for plant construction, while roughly 11.9 trillion won is set aside for EUV scanners, which the company expects to receive by December 2027.
SK Hynix says it will cover any extra costs beyond the IPO proceeds using cash from operations, existing and future credit lines, and debt issuance.
The timing isn’t random either. This filing landed just one day after Samsung Electronics, SK Hynix, and the South Korean government announced a combined $590 billion plan for a new chip manufacturing hub.
That hub will include four fabrication plants. The goal is to double South Korea’s DRAM output over the next five years.
Why The Listing Matters For Valuation
HSBC weighed in last week, saying the Nasdaq listing could boost SK Hynix’s valuation by about 20%. The bank pointed to a price-to-book ratio climbing from 2.8 to 3.4.
That would help close the valuation gap between SK Hynix and U.S. rival Micron Technology. Both companies compete directly in the memory chip space, alongside Samsung.
The broader IPO market is having a strong year too. Companies have raised $251 billion through June 26, according to Bloomberg data, putting 2026 on pace for a record.
Memory-related funds have been on a tear as well. The Roundhill Memory ETF is up 160% so far this year, while the iShares Semiconductor ETF has gained 96%.
Samsung, SK Hynix, and Micron sit as the top three DRAM holdings across those funds. SK Hynix expects its shares to begin trading on Nasdaq on July 10.
🚨 Our JUNE Stock Picks Are Live!
A new month means new opportunities. Our analysts have just released their top stock picks for June, highlighting companies with strong momentum that rank highly on our KO Score algorithm. We’re also now sharing trade ideas for both long-term and short-term investors, giving you more ways to spot potential opportunities in the market.
Sign up to Knockout Stocks today and get 50% off to unlock the full list and see which stocks made the cut.
Use coupon code Special50 for your exclusive discount!
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
