SK Hynix U.S. ADR Reference Fundraising Amount Approximately KRW 45.45 Trillion, Nasdaq Listing on July 10
Miles Bennett
SK hynix approved a new-share ADR offering targeting ~KRW 45.45 trillion (~$29.6 billion), with a Nasdaq listing expected July 10 — every dollar raised goes straight into fab and advanced-packaging capacity, a direct bet on the next round of the HBM arms race.
How big is this offering?
SK hynix's board resolved on June 24 to issue new shares as ADRs — American Depositary Receipts — and list them on the Nasdaq Global Select Market.
The reference offering totals ~KRW 45.45 trillion (~$29.6 billion), with a cap of 17.79 million new shares at a reference price of KRW 2.555 million per share.
This means → if fully subscribed, this ranks among the largest offshore equity raises ever by a Korean semiconductor company.
How does the ADR structure work?
Each 1 DR maps to 0.1 ordinary share of SK hynix, at a reference DR price of KRW 255,500.
In plain terms = SK hynix issues new ordinary shares and deposits them with an overseas custodian (Citibank, N.A.), which then packages them into ADRs for allocation to overseas institutional investors — buyers hold receipts backed by real shares.
The underwriter lineup: BofA Securities, Citigroup Global Markets, Goldman Sachs (Asia), and J.P. Morgan Securities. Underlying shares are held by the Korea Securities Depository.
What does the timeline look like?
Expected Nasdaq listing: July 10, 2026; subscription and payment date tentatively July 14; new-share listing expected July 29.
SK hynix stressed all dates remain tentative, subject to the bookbuilding process — the phase where institutional investors submit orders and the final size and price are set.
The company filed a securities registration statement with Korea's Financial Services Commission on the same day.
Where does ~$29.6 billion go?
Proceeds are earmarked entirely for facility investment — no general-purpose allocation, a very pointed commitment.
Three specific destinations: ① Yongin semiconductor cluster Phase 1 fab (Y1) construction; ② Cheongju P&T7 advanced-packaging fab construction and equipment procurement; ③ EUV scanner — extreme-ultraviolet lithography equipment — related construction and facility investment.
This reflects SK hynix betting on three parallel tracks at once: new wafer-fab capacity, advanced-packaging capacity, and EUV lithography equipment — all feeding the HBM and high-end memory capacity race.
Content is for reference only, not financial advice.