SK Hynix designates its underwriters for its U.S. listing

SK Hynix has designated Citigroup, JPMorgan, Goldman Sachs, and Bank of America as underwriters for its planned U.S. initial public offering.

Last month, the South Korean chipmaker said it planned to file a confidential document for a listing in the United States in the second half of 2026. SK Group Chairman Choi Tae-won said that listing in the United States would help expand SK Hynix’s shareholder base beyond South Korea, increase exposure to U.S. and international investors, and strengthen its global influence.

Here are some details:

The paper cited unnamed investment banking sources as saying that SK Hynix’s U.S. listing is expected to raise about 100 trillion to 150 trillion won (US$6.63 billion to US$9.95 billion), and added that the funds would be used to finance artificial intelligence infrastructure, including the development of the company’s Icheon chip cluster.

Media reports last month said the company’s U.S. listing could raise as much as US$14 billion, which would help fund chip manufacturing facilities in South Korea’s Icheon city and Indiana in the United States.

The amount this South Korean company could raise from its U.S. listing may be more than twice the US$4.6 billion raised by e-commerce group Coupang in its 2021 U.S. IPO.

“We still cannot confirm it at this time, because this process is still at an early stage, and the selection of underwriters will take some more time—we have no further information to share,” SK Hynix said in a statement to Reuters.

Citigroup declined to comment. JPMorgan, Goldman Sachs, and Bank of America did not immediately comment outside normal business hours.

SK Hynix shares rose 5.8% in morning trading, while the benchmark Korea Composite Stock Price Index (KOSPI) rose 2.7%.

(1 U.S. dollar = 1509.1000 won)

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By Mingliang Liu