The chipmaker plans to sell 17.79 million new shares in a U.S. debut that could become one of the largest foreign listings as investors gauge demand for AI infrastructure exposure.
SK Hynix is moving ahead with a roughly $29 billion Nasdaq listing, positioning the South Korean memory chipmaker to raise capital in the U.S. as investor demand for artificial intelligence infrastructure remains strong. The company filed its F-1 with the SEC on June 24 and plans to issue up to 17.79 million new shares as American Depositary Receipts, representing about 2.5% of its total equity. Bookbuilding is scheduled to begin on July 6, with final pricing expected on July 9 and trading under the ticker SKHY anticipated to start on July 10. The company will remain listed on the Korea Exchange under ticker 000660.KS, making the Nasdaq transaction a secondary listing rather than a shift away from its home market. Proceeds are earmarked for expanding capacity, including construction of the Yongin semiconductor cluster and purchases of AI memory production equipment. The offering would rank among the largest U.S. listings ever by a foreign company, topping Saudi Aramco’s $25.6 billion 2019 IPO. The deal is being watched as a test of U.S. investor appetite for AI infrastructure companies beyond Nvidia and AMD. SK Hynix is the leading supplier of high-bandwidth memory, a critical component in AI accelerators, and its expanded spending could intensify competition with Samsung Electronics, Micron Technology and other memory makers. Derivatives tied to SK Hynix shares have also appeared on crypto platforms, reflecting a broader push to offer tokenized versions of traditional equities on blockchain-based venues.