SK hynix, which is a leading South Korea-based DRAM and flash memory chip maker, announced terms for its IPO on Monday. The company is currently listed on the KRX KOSPI Market of the Korea Exchange under the symbol "000660".
The Icheon, South Korea-based company plans to raise $28.1 billion by offering 177.9 million ADSs at $158.14, the as-converted July 3 close of its shares on the KRX KOSPI. Cornerstone investors Baillie Gifford, Coatue Management, and Situational Awareness Partners have indicated on $7 billion of the IPO (24.9% of the deal). At the proposed price, SK hynix would command a market cap of of $1.2 trillion.
SK hynix is one of the world's largest memory semiconductor companies and engage in the design, manufacture, and sale of Dynamic Random Access Memory (DRAM) and Not-AND (NAND) flash memory products. By revenue, the company ranked first or second in the global DRAM, high-bandwidth memory (HBM), and NAND flash memory markets in the 1Q26. Its memory products can be used in virtually all electronic devices, including graphics cards, personal computers, data center servers, mobile devices, and other consumer electronics products. The company also has foundry operations.
SK hynix was founded in 1983 and booked $84.9 billion in revenue for the 12 months ended March 31, 2026. It plans to list on the Nasdaq under the symbol SKHY. BofA Securities, Citi, Goldman Sachs, J.P. Morgan, Cantor Fitzgerald, Mizuho Securities, Needham & Co., RBC Capital Markets, Rosenblatt Securities, Stifel, Wedbush Securities, William Blair, WR Securities, and Nomura Securities are the joint bookrunners on the deal. It is expected to price the week of July 6, 2026.
