SK Hynix plans mega Nasdaq ADR sale

SK Hynix has filed for a large American Depositary Receipt offering that aims to raise up to about $29.4 billion, or roughly 45.45 trillion won. The transaction would rank among the larger ADR offerings in size and is designed to broaden the company’s access to international equity capital. The plan calls for the sale of new securities in the form of American Depositary Shares to investors in the United States.

The company’s filing states that it may issue up to 17.79 million American Depositary Shares. These ADSs would represent approximately 2.5% of SK Hynix’s total outstanding shares, indicating that the offering is sizable but does not involve a majority stake. The issuance is structured to supplement, rather than replace, the company’s existing listing in its home market.

SK Hynix intends to list the new ADSs on the Nasdaq stock market in the United States. The securities are planned to trade under the ticker symbol SKHY, giving the company a distinct identifier for its U.S.-traded equity. The company has indicated that trading and the Nasdaq debut could begin as early as July 10, 2026, subject to market conditions and regulatory processes.

The company will maintain its current listing on the KOSPI in Korea while adding Nasdaq as an additional venue. This dual presence would allow investors in different regions to access the stock in their local markets and currencies. The Nasdaq listing is presented as a way to expand the shareholder base and enhance the liquidity of SK Hynix’s equity.

Global coordinators named for the proposed ADR sale include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS) and J.P. Morgan (JPM). These institutions are positioned to act as lead underwriters for the deal, coordinating marketing, bookbuilding and distribution of the ADSs to institutional and other investors. Their participation underscores the scale and cross-border nature of the planned transaction.

The structure of the offering involves American Depositary Shares, each representing an interest in SK Hynix’s underlying Korean-listed shares. This format enables U.S. investors to gain exposure to the company using familiar U.S. market infrastructure, settlement systems and disclosure standards. The filing outlines that the company is seeking to raise capital rather than facilitate a secondary sale by existing shareholders.

SK Hynix has indicated that the proceeds from the ADR offering are earmarked for expanding its semiconductor production capacity and funding related capital expenditures. Planned uses include building new factories and acquiring advanced manufacturing equipment. Examples highlighted in the filing include purchases of extreme-ultraviolet lithography tools, such as those supplied by ASML.

The company also points to planned investments at specific domestic sites, including Yongin and Cheongju. These locations are described as targets for additional capacity and technology upgrades supported by the fresh capital. By directing the funds to production infrastructure and high-end equipment, SK Hynix aims to reinforce its position in the semiconductor industry while channeling large-scale investment into its Korean manufacturing base.