SK Hynix's upcoming Nasdaq debut is drawing exceptional investor demand. The company's $28 billion American depositary receipt offering was oversubscribed by more than 700% before pricing.
The deal is one of the largest US listings by a foreign tech company in recent years. SK Hynix is listing 17.79 million new shares under the ticker SKHY, structured as 177.9 million ADRs. Marketing began July 6, with pricing expected around July 9 and trading set to start July 10, 2026.
Major anchor investors, including Baillie Gifford, Coatue Management, and Situational Awareness Partners, have indicated collective interest of up to $7 billion.
The company's leadership in high-bandwidth memory (HBM) chips, crucial for AI accelerators from Nvidia, is a primary driver of this interest. Proceeds will fund expanded manufacturing to meet surging AI demand.
This move signals SK Hynix's strategic bet that a US listing will provide a valuation premium and deeper access to capital markets, strengthening its position against competitors like Samsung and Micron.