How much will SK Hynix raise in its U.S. IPO?

Approximately $2.65 billion, the largest by a foreign firm in U.S. IPO history.

An American Depositary Receipt allows foreign shares to trade in the U.S. without direct listing.

How will the funds be used?

To build a new fab, advanced packaging facilities, and purchase EUV lithography tools.

What impact will this IPO have on the industry?

It signals sustained demand for AI memory and boosts SK Hynix’s global valuation.

Will this narrow the gap with Micron?

Yes, the U.S. listing is expected to close the valuation gap with Micron.

Second Only to SpaceX! SK Hynix to Raise $2.65 Billion in U.S. IPO, Set to Surpass Alibaba's Record for Foreign Companies

Published Jul 10, 2026 10:30 AM ・ Updated Jul 10, 2026 7:42 PM ・ 4 min read ・ Source: PR Times

South Korean chipmaker SK Hynix announced Friday it will raise approximately $2.65 billion through its U.S. ADR offering, marking the largest IPO by a foreign company in U.S. history and signaling strong global demand for AI memory leaders.

South Korean chipmaker SK Hynix announced Friday that it will raise approximately 40 trillion won (about $26.5 billion) through the issuance of American Depositary Receipts (ADRs) on U.S. markets, slightly down from its previously announced 43 trillion won. Nevertheless, this ranks as the second-largest equity offering globally, trailing only SpaceX’s $75 billion raised last month.

Analysts believe SK Hynix’s decision to go public amid a broad pullback in semiconductor stocks reflects sustained international investor appetite for leading AI memory companies.

According to a regulatory filing, SK Hynix is issuing 177.9 million ADRs at $149 per share, representing a 3.1% premium over Thursday’s closing price for its ordinary shares on the Korean exchange. Each ADR represents one-tenth of an ordinary share listed in Korea. The offering is expected to set a record for the largest IPO by a foreign company in the U.S., surpassing Alibaba’s $21.8 billion New York debut.

Demand for the ADRs has been robust, with subscription orders exceeding seven times the available shares—far above market expectations. The ADR issuance is backed by 22.5 million underlying ordinary shares.

ADRs are issued by U.S. depositary banks and represent shares in foreign companies, enabling overseas firms to access U.S. capital markets without directly listing their common stock on American exchanges.

Proceeds from the IPO will be used to build a new semiconductor fabrication plant and an advanced chip packaging facility in South Korea. The company also plans to invest 11.9 trillion won in purchasing EUV lithography equipment, aiming to complete installation by the end of next year.

Industry observers predict that despite concerns the AI-driven growth cycle may have peaked, the global memory chip market will continue to expand.

SK Hynix’s U.S. listing is also expected to narrow the valuation gap between the company and its American rival, Micron Technology.

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Source: PR Times
Category: Funding
Organizations: SpaceX
Products / services: DRAM

Second Only to SpaceX! SK Hynix to Raise $2.65 Billion in U.S. IPO, Set to Surpass Alibaba's Record for Foreign Companies

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