SK Hynix Files for $29.4B Nasdaq Listing, Plans July IPO

South Korean memory chipmaker SK Hynix filed a registration statement with the US Securities and Exchange Commission for a Nasdaq listing that could raise up to $29.4 billion. The company plans to list American Depositary Shares under ticker SKHY, with up to 17.79 million newly issued common shares representing about 2.5% of its current share count. Initial pricing is estimated near $166 per ADS, valuing the offering at approximately 45.45 trillion won.

SK Hynix plans to begin bookbuilding on July 6, set the final price on July 9, and commence trading on Nasdaq on July 10. BofA Securities, Citigroup, Goldman Sachs, and JPMorgan are managing the offering. The company will use proceeds for general corporate purposes and capital expenditures, including new semiconductor factories and advanced chipmaking equipment from ASML.