The chipmaker’s planned 2026 offering would surpass Alibaba’s 2014 IPO and Aramco’s $25.6 billion sale as the largest ever.
SK Hynix will issue up to 17.79 million new shares via American depositary receipts on Nasdaq, targeting $29.65 billion in proceeds. Trading is set to begin July 10, 2026, with pricing based on a 2.555 million won reference price per share.
The deal would exceed Alibaba’s $25 billion U.S. listing in 2014 and Saudi Aramco’s $25.6 billion IPO in 2019. Proceeds will fund Korean fabrication expansion and equipment purchases, including ASML’s extreme ultraviolet scanners.
The company aims to align its valuation with U.S. peers like Micron Technology and expand its investor base in the AI innovation hub. BofA Securities, Citigroup, Goldman Sachs, and J.P. Morgan are managing the offering.