SK hynix debuts on Nasdaq with a $26.5 billion raise
SK hynix began trading American depositary receipts on the Nasdaq on July 10, 2026, pricing 177.9 million ADRs at $149 each and raising approximately $26.5 billion. The offering was oversubscribed more than 7 times, according to Forbes, citing Reuters.
SK Group Chairman Chey Tae-won, SK hynix CEO Kwak Noh-Jung, SK Square Vice Chairman Chey Jae-won and SK Americas CEO Yu Jeong-Joon attended the listing ceremony. “I’d like to thank our investors and customers for their trust and support. Through continuous innovation, we will push the boundaries of what memory can achieve while empowering our employees to reach even greater accomplishments,” Kwak said. He added: “SK hynix seeks to be wherever AI is, continually demonstrating our technology leadership.”
Shares surged on debut: two snapshots, two figures
Forbes reported at 11:46 a.m. ET on July 10 that SK hynix’s ADRs were up 17% from the $149 offer price — an intraday snapshot. Korea JoongAng Daily, citing Yonhap, reported the ADRs closed the day at $168, a 13% gain. The two figures reflect different measurement points — an intraday high versus the closing price — rather than conflicting data.
Yonhap’s reporting, via Korea JoongAng Daily, characterized the offering as the second-largest equity offering in the entire US market in 2026, behind only SpaceX. That comparison spans all US equity offerings, not a narrower category of offerings by companies headquartered outside the United States.
Where the proceeds are going
According to SK hynix’s SEC prospectus, proceeds from the ADR offering are earmarked for its Yongin and Cheongju facilities in Korea, including EUV lithography scanner equipment. The company’s separate $4 billion packaging plant under construction in West Lafayette, Indiana, is a distinct investment and is not funded by this offering.
The follow-on step in Korea comes July 29
SK hynix has traded on Korea’s KOSPI exchange for years; this Nasdaq debut did not change that status. The common shares underlying the new ADRs are scheduled for an additional listing on the KOSPI on July 29, a procedural step tied to the ADR structure rather than a first-time opening of the stock to Korean investors.
HBM market position
Forbes reported that SK hynix holds just over 56% of the high-bandwidth memory (HBM) market. The company’s Nasdaq listing and its HBM market position are both current facts about SK hynix, but the reporting reviewed does not establish a causal link between the two.
What’s still unconfirmed
Forbes has estimated SK hynix’s market capitalization at roughly $1 trillion as of July 10, though this figure is Forbes’ own estimate rather than a company-confirmed valuation. The two differing price-surge figures (17% versus 13%) from Forbes and Yonhap have not been reconciled in the sourcing reviewed for this article, and both are presented here attributed to their respective outlets rather than merged into a single number.
What to watch next
The additional KOSPI listing of the underlying common shares on July 29 is the next scheduled event tied to this offering. How SK hynix’s ADRs trade in the weeks following the debut, and whether the company provides further detail on the Yongin and Cheongju facility timelines funded by the raise, will be the next points of confirmation.
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