SK hynix Inc., a South Korean semiconductor company that trades on the KRX KOSPI Market under the code "000660," has submitted a prospectus to list 177,900,000 American Depositary Shares (ADSs) on the Nasdaq Global Select Market, where the ADSs would trade under the ticker symbol SKHY.
Under the terms disclosed in the filing, each ADS will represent one-tenth of a common share, and the company's common shares carry a par value of ₩5,000. The filing provides a snapshot of recent local trading: as of July 3, 2026, SK hynix common shares were quoted at ₩2,425,000 on the KRX KOSPI Market. Using an exchange rate of ₩1,533.44 to the U.S. dollar, that level of common-share trading translates to approximately $158.14 per ADS.
The offering's public offering price has not been determined. According to the prospectus, the final IPO price will be set through negotiations between SK hynix and the underwriters. Those negotiations will take into account the last reported trading price of the company's common shares as well as prevailing market conditions at the time of pricing.
The filing identifies three institutional investors that have indicated interest in participating in the offering as cornerstone buyers. Baillie Gifford Overseas Limited, Coatue Management, L.L.C., and Situational Awareness Partners LP have collectively signaled an intention to acquire up to $7 billion of ADSs at the IPO price. The prospectus makes clear these are indications of interest rather than binding purchase commitments, and the amounts actually purchased may differ from the indications.
Prior to this proposed offering, SK hynix ADSs have not been available in a public market. The details in this article are drawn from the company's prospectus filing. The filing lays out the structure of the ADSs, the relationship between ADSs and underlying common shares, the par value of common stock, recent local trading levels, the exchange rate used to convert to an approximate ADS price, the undecided public offering price mechanism, and the non-binding nature of the cornerstone investors' indications.
Implications for markets and investors
Listing ADSs on Nasdaq would create a U.S.-listed vehicle for international investors to acquire exposure to SK hynix shares through American Depositary Shares. The prospectus emphasizes that pricing will be determined in coordination with underwriters and subject to market conditions, and it notes that significant indicated interest from three institutional investors exists but is not contractually guaranteed.