SK Hynix Raises $28B in Record Nasdaq ADR Listing, Bets Proceeds on HBM Expansion
One-line summary: SK Hynix listed on Nasdaq as SKHY on July 10, raising $28 billion — the second-largest equity offering ever globally — and will channel proceeds into next-generation HBM fabs and ASML EUV scanners.
Key facts
- ADR priced at $149; each ADR represents one-tenth of one common share; 17.79 million new shares issued
- Capital allocation: $21B (31 trillion KRW) to the Yongin Semiconductor Cluster Fab 1; $13B to the Cheongju P&T7 advanced packaging plant; $8.2B to purchase ASML EUV lithography tools
- SK Hynix holds roughly 60% of the global HBM market — the memory type powering nearly every AI accelerator from Nvidia to AMD
- Cornerstone investors: Baillie Gifford, Coatue Management, and Situational Awareness Partners collectively committed $7 billion
- Only SpaceX's $85.7 billion June 2026 IPO was larger in history
Why it matters
The listing transforms SK Hynix into a directly US-tradeable AI infrastructure play at exactly the moment HBM supply constraints are becoming a binding bottleneck for GPU production. By raising capital in US markets, the company gains access to the same investor pool that funds Nvidia, AMD, and the hyperscalers — and signals that memory semiconductor financing is now operating at the same scale as cloud-infrastructure spending. The EUV and advanced-packaging investments point to sustained HBM dominance through the late 2020s.
Read more
- SK Hynix $28B Nasdaq listing — CNBC
- Record $28B Nasdaq listing — TechTimes