SK Hynix completed its US listing on July 10, 2026, raising $26.51 billion through the sale of 177.9 million American depositary receipts. The shares were priced at $149 each, surpassing the 2014 record set by Alibaba for the largest US listing by a foreign company.
On the first day of trading, the ADRs opened at approximately $170 and reached intraday highs near $177, closing with gains between 14% and 17%. The company’s market capitalization at the time of listing was around $1.1 trillion.
Cornerstone investors, including Baillie Gifford and Coatue Management, expressed interest in up to $7 billion of the offering. The company intends to allocate the proceeds toward constructing new fabrication and packaging facilities in South Korea and purchasing EUV scanners.
The listing significantly impacted the US IPO market, which raised $36.1 billion in the third quarter of 2026. This period was the second-busiest for US IPOs since 2021, with SK Hynix contributing the majority of the total volume.
SK Hynix maintains a dominant position in the high-bandwidth memory market, holding a 56% share as of the first quarter of 2026. The firm supplies memory components to Nvidia and Microsoft for use in artificial intelligence applications.
