SK hynix, a leading South Korea-based DRAM and flash memory chip maker, raised $26.5 billion by offering 177.9 million shares at $149, a 3% premium to today's as-converted close on the KRX KOSPI. Cornerstone investors Baillie Gifford, Coatue Management, and Situational Awareness Partners had indicated on $7 billion of the IPO (26% of the deal). At the offer price, SK hynix commands a market cap of $1.1 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.
The Icheon, South Korea-based company will trade 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 acted as joint bookrunners on the deal.
