Coming to America: SK Hynix plans depository receipt listing on the Nasdaq
By Steve Goldstein
Hynix to raise about $30 billion from U.S. investors
SK Hynix stock has already delivered an 88% return in 2026, so beating lofty expectations is becoming more challenging.
SK Hynix, one of the three major memory-chip makers whose shares have surged in value due to huge demand for artificial-intelligence applications, said on Wednesday it's going to issue American depository receipts, giving U.S. investors an easier way of investing in the company.
Parent company SK Square said the listing of some 45.4 trillion Korean won ($29.7 billion) worth of Hynix (KR:000660) will take place on July 10 on the Nasdaq.
Currently, U.S. investors either have to buy the stock directly from the South Korean exchange or buy a fund investing in the company, such as the Roundhill Memory ETF DRAM.
Hynix said it'll use the proceeds for fab building as well as the acquisition of extreme ultraviolet scanners, which should benefit long-time supplier ASML (NL:ASML) (ASML).
Hynix and fellow South Korean chip company Samsung Electronics (KR:005930) stumbled on Tuesday as the Kospi stock-market index plunged 10%, but the stock has surged 296% this year and 802% over the last 52 weeks.
Hynix rival Micron Technology (MU) is set to report results after the close on Wednesday.
-Steve Goldstein
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06-24-26 0507ET
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