SK Hynix to list on Nasdaq, aims to raise $29 billion

South Korean memory chip giant SK Hynix is set to begin trading on the Nasdaq stock exchange on Friday, July 10, 2026, in a landmark share sale expected to raise approximately $29 billion. The offering, structured through American Depositary Receipts, is poised to become the largest first-time U.S. listing by a foreign company and the second-largest share sale in history, trailing only SpaceX's record initial public offering last month.

The company will sell 17.79 million new shares, representing about 2.5% of its total outstanding shares. The final price for the listing will be determined on Thursday, July 9. SK Hynix will maintain its existing listing on the Korea Exchange, creating a dual-listing structure.

Chief Executive Kwak Noh-jung stated that listing in the U.S. market, where global big tech firms are listed, will allow large institutional investors to properly reassess the company's value. Analysts note the move grants the chipmaker direct access to the world's deepest equity market and places it squarely within the U.S. technology and AI investment landscape, potentially narrowing a longstanding valuation gap with American rival Micron Technology.