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SK Hynix Confirms $26.51 Billion Raised Through ADR Offering

Provided by Dow Jones

By Kwanwoo Jun 




  SK Hynix has raised $26.51 billion by issuing American depositary receipts in what would become the largest share sale by a non-U.S. company on Wall Street. 



  The South Korean chip maker priced its ADRs at $149 each ahead of their Nasdaq debut Friday, according to a regulatory filing with the Korea Exchange. 



  The company plans to issue 177.9 million ADRs, with 10 ADRs representing one common share, the filing said. 



  SK Hynix plans to use the ADR offering's proceeds to expand chip-making facilities in South Korea and purchase chip-making equipment such as ASML's extreme ultraviolet scanners, according to the filing. 



  The deal would mark the biggest ever ADR offering ever completed, topping the $25 billion record Chinese e-commerce giant Alibaba raised in 2014. The deal would be the second biggest share sale in history behind SpaceX's last month. 



  Analysts say the U.S. listing would help SK Hynix narrow the valuation gap with U.S. rival Micron Technology and also pave the way for the South Korean memory-chip maker to join the Philadelphia Semiconductor Index, a U.S. chip benchmark tracked by global passive funds, potentially prompting a re-rating of the stock. 





  Write to Kwanwoo Jun at kwanwoo.jun@wsj.com 





  (END) Dow Jones Newswires



  July 09, 2026 20:10 ET (00:10 GMT)


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