Visitors walk past the SK Hynix logo during the Korea Electronics Show 2025 held at the COEX Convention and Exhibition Center in Seoul, October 22, 2025.
Jung Young Jae | AFP | Getty Images
SK Hynix, South Korea’s most valuable company, plans to raise about $29 billion on Nasdaq by issuing American Depositary Receipts (ADRs), according to the company’s regulatory filing.
The company plans to issue 17.79 million new shares worth 45.45 trillion won ($29.65 billion).
SK Hynix said it plans to start trading on July 10, but added that the date is provisional and subject to change.
The company added that it hopes that the ADR listing will expand its investor base and “ultimately allow the true value of the company to be properly evaluated.”
SK Hynix said in a filing that it “expects to enhance its position as a global company by expanding its touchpoints in the United States, which is the center of AI technology innovation.”
SK Hynix is rapidly expanding its business to meet the rapidly increasing demand for AI. The company is building a massive new campus for its memory chip manufacturing plant in South Korea, known as the Yongin cluster, which is expected to begin operations in 2027, and is also building its first U.S. packaging factory in Indiana, worth $4 billion.
According to Reuters, a number of major banks operate this product, including BofA Securities, Citigroup Global Markets, Goldman Sachs and JPMorgan Securities.
AI is causing a global memory shortage as high-performance systems consume large amounts of general-purpose DRAM to create something called high-bandwidth memory (HBM). According to Counterpoint research director MS Hwang, SK Hynix holds about 60% of the HBM market share.
“What’s clear is that SK is definitely the leading company in HBM. And SK is also better in terms of manufacturing costs. That’s why we have the highest operating margin. So we have the best product and the lowest cost. What else do we need?” Huang said in an interview with CNBC on June 17.
SK Hynix’s stock price has soared more than 280% this year, pushing its market capitalization above $1 trillion as investors flock to the company seen as the main beneficiary of the global scramble for HBM chips.
Samsung Electronics and SK Hynix together account for more than 40% of South Korea’s benchmark Kospi, raising concerns that the market could be further exposed to risks such as supply chain disruptions and a slowdown in global data center investment.
