SK Hynix raises $26.5bn in U.S. share sale

SK Hynix has completed a large U.S. share sale tied to its Nasdaq listing, selling 177.9 million American Depositary Shares (ADS) at a price of $149 each. The offering raised about $26.5 billion, making it the largest U.S. share sale completed by a foreign issuer. The sale significantly expands access to the South Korean memory‑chip maker for investors who prefer to trade in U.S. markets rather than on the Korea Exchange.

Institutional orders for the ADS were reported to be more than seven times the number of shares on offer, indicating strong demand for exposure to the company. This level of oversubscription underscores investor interest in SK Hynix at the time of its U.S. debut, against a backdrop of heightened focus on semiconductor and memory‑chip producers.

Each SK Hynix ADS represents one‑tenth of a common share that trades on the Korea Exchange. This structure allows U.S. investors to gain exposure to the stock in smaller dollar increments while still being linked to the underlying Korean‑listed equity. The American depositary format also reduces the need for U.S. investors to navigate foreign exchange and overseas settlement processes.

The ADS began trading on Nasdaq on July 10 on a when‑issued basis under the temporary ticker symbol SKHYV. The listing is set to convert to the permanent ticker SKHY after the when‑issued period concludes, at which point regular trading arrangements are expected to be in place.

Market infrastructure is moving quickly to build a derivatives and products ecosystem around the new U.S. listing. Cboe Global Markets expects to list options on SK Hynix’s U.S. shares two business days after the Nasdaq debut, adding a venue for hedging and speculative strategies tied to the stock.

In parallel, at least 10 fund managers have filed registrations to launch single‑stock exchange‑traded funds that track SK Hynix. These planned products include leveraged and inverse strategies, designed to magnify gains or losses relative to the performance of the underlying ADS. The expected arrival of these funds highlights the level of market interest in trading SK Hynix through a wide range of instruments.

The U.S. sale and Nasdaq listing give SK Hynix a large capital infusion and broaden its shareholder base beyond its home market. Proceeds from the offering are earmarked for expanding manufacturing capacity and building additional plants focused on advanced semiconductor products. For investors, the listing offers a direct route to participate in the company’s future performance through U.S. markets, supported by options and prospective single‑stock ETFs that could further deepen liquidity.