Quick Take
- SK Hynix plans a $29.4 Bn (Rs 2,77,830 Cr) Nasdaq ADR listing on July 10, 2026.
- The raise would rank second only to SpaceX, beating Alibaba and Saudi Aramco on the US leaderboard.
- Proceeds fund new Korean chip fabs, EUV scanners, and HBM capacity for soaring AI demand.
In This Article
The SK Hynix US IPO will raise up to $29.4 Bn (Rs 2,77,830 Cr) through a Nasdaq listing of American Depositary Receipts (ADRs, US-traded receipts that represent foreign shares), with trading set to begin on July 10, 2026 (SK Hynix regulatory filing).
The South Korean memory chip giant is tapping white-hot investor appetite for artificial intelligence (AI) plays. If priced at the top end, the deal would be the second-largest US share sale on record. It follows Elon Musk’s SpaceX, which raised $85.7 Bn earlier in June 2026, according to ET research. SK Hynix supplies high-bandwidth memory (HBM) chips to Nvidia, as detailed on the SK Hynix Newsroom.
StartupFeed Insight
One detail is easy to miss: this is not a true IPO. SK Hynix shares already trade in Seoul, so the Nasdaq move is a secondary ADR listing dressed up as a debut. The real signal is valuation arbitrage. SK Hynix wants a US re-rating next to Micron, betting American investors pay more for HBM exposure. Indian founders eyeing global capital should watch closely. StartupFeed expects at least two more Asian chip or AI names to file US ADR plans before December 2026, as the AI memory shortage keeps pricing power tilted toward suppliers. By StartupFeed Desk.
SK Hynix US IPO: Deal Breakdown
The SK Hynix US IPO is a Nasdaq ADR offering of 17.79 million new shares, about 2.5% of the company’s stock (SK Hynix filing). The figures below summarise the deal as filed.
| Metric | Detail | Notes |
|---|---|---|
| Total Raise | Up to $29.4 Bn (Rs 2,77,830 Cr) | 45.45 trillion won, top of range (company filing) |
| Listing Type | Nasdaq ADR secondary listing | 10 ADRs equal 1 common share |
| Lead Banks | BofA, Citigroup, Goldman Sachs, J.P. Morgan | Citibank is depositary bank (Reuters) |
| Trading Date | July 10, 2026 (tentative) | Pricing set after bookbuilding |
| New Shares Issued | 17.79 million | About 2.5% of stock (company filing) |
| Korea Share Listing | July 29, 2026 | New shares list on Korea Exchange |
The most striking fact: SK Hynix earlier signalled a raise of no more than $14 Bn when it filed confidentially in March 2026 (Reuters). The final target more than doubled as AI memory demand surged.
About SK Hynix
SK Hynix is the world’s second-largest memory chipmaker, founded in 1983 and headquartered in Icheon, South Korea. It makes DRAM, NAND flash, and high-bandwidth memory (HBM) used in AI servers. The company holds about 60% of the global HBM market (Counterpoint). It supplies Nvidia, Google, and Apple, and recently overtook Samsung as South Korea’s most valuable listed firm, crossing a $1 trillion market value in May 2026.
How does the SK Hynix US IPO compare?
The SK Hynix US IPO would rank as the second-biggest US share sale in history at $29.4 Bn (Rs 2,77,830 Cr), behind only SpaceX. SK Hynix would beat Saudi Aramco’s $29.4 Bn 2019 float and Alibaba’s $25 Bn 2014 debut on the all-time list, according to ET research. An SK Hynix official framed the goal plainly.
Through the ADR listing, we expect to diversify our investor base and achieve a valuation that better reflects our corporate value, an SK Hynix official said.
SK Hynix wants US analyst coverage and a price closer to rival Micron. Its Seoul stock has already climbed more than 280% in 2026, so the listing is about deepening access, not first-time discovery.
How will SK Hynix use the funds?
SK Hynix will spend the proceeds on factory construction and chipmaking equipment, not on selling-shareholder payouts. The company plans total capital spending of 55.92 trillion won (SK Hynix filing). It is building the Yongin Semiconductor Cluster in South Korea, due to start operations in 2027, plus a $4 Bn packaging plant in Indiana, its first US site.
The money will also buy extreme ultraviolet (EUV) scanners from Dutch toolmaker ASML and expand HBM output for AI customers. SK Hynix held more than 35 trillion won in net cash at the end of Q1 2026, so the raise is about growth speed, not survival.
Where does India fit on the IPO map?
India is building its own record listing wave even as the SK Hynix US IPO grabs global headlines. The National Stock Exchange (NSE) filed its draft papers with SEBI (Securities and Exchange Board of India) on June 17, 2026, and Jio Platforms followed on June 19, 2026 (DRHP filings).
| Listing | Estimated Size | Market |
|---|---|---|
| SK Hynix (ADR) | $29.4 Bn (Rs 2,77,830 Cr) | Nasdaq, US |
| Jio Platforms | About Rs 30,000-38,000 Cr | BSE and NSE, India |
| NSE | About Rs 30,000 Cr | India (OFS) |
India’s two biggest IPOs together target over Rs 60,000 Cr, a fraction of SK Hynix’s single raise. The gap shows how much catching up Indian primary markets must do on the global leaderboard.
What’s Next
SK Hynix expects pricing to finalise after bookbuilding, with ADR trading targeted for July 10, 2026, and new Korean shares listing on July 29, 2026. The dates remain tentative and depend on US Securities and Exchange Commission (SEC) review. Strong AI demand could push the final price to the top of the range. Will SK Hynix’s US re-rating tempt Indian chip and AI startups to chase Nasdaq listings too?
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Last updated: June 29, 2026 at 09:15 IST
Disclaimer: This article is for informational purposes only and does not constitute investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. The analysis above is based on publicly available information and should not be the sole basis for any investment decision. Please consult a SEBI-registered financial advisor before making investment decisions.
Written by Avinash. Published: June 29, 2026. Updated: June 29, 2026. Have a tip? Write to us at editorial@startupfeed.in.
