SK Hynix raises $14 billion in U.S. IPO filing
SK Hynix has filed a confidential draft with the U.S. SEC for a planned IPO in the second half of 2026, aiming to raise up to $14 billion, according to a source familiar with the matter. The South Korean chipmaker plans to list about 2%-3% of its total shares to fund chip plant projects in Yongin, South Korea, and Indiana, USA.
The company, a major player in memory chips production, has increased its capacity to meet the rising demand for AI data centers. SK Hynix’s shares were up 2.3% at 3 GMT, compared to a 1.7% gain for the KOSPI index.
Confidential filings allow companies to withhold financial details until closer to the actual listing. A 2%-3% share offering would value SK Hynix at $9.6-$14.4 billion, potentially surpassing Coupang’s $4.6 billion U.S. IPO in 2021.
SK Hynix aims to raise over 100 trillion won in net liquidity to meet customer demands and stabilize operations. Its U.S. listing plan comes amidst increasing chip investments due to AI chip demand, as well as geopolitical risks and investor scrutiny.
The Korea Corporate Governance Forum opposes SK Hynix’s potential share issuance for the U.S. IPO, believing it could dilute existing shares and compromise Korean legislation safeguarding shareholder interests. The forum suggests SK Hynix should use excess cash flow to repurchase 10-15% of its shares for the IPO.
Kim Hyun-su, a fund manager at IBK Asset Management, called the decision disappointing. She questioned the need for new shares and suggested using existing ones for the IPO, followed by share buybacks to satisfy all parties.
(Note: SK Hynix confidentially files for U.S. IPO to raise $14 billion, plan includes 2%-3% share sale, aimed at funding chip plant projects, Korea Corporate Governance Forum opposes share issuance for U.S. listing)
