--- title: "SK Hynix updates its US IPO prospectus, semiconductor equipment leaders respond" type: "News" locale: "en" url: "https://longbridge.com/en/news/291852757.md" description: "SK Hynix submitted a revised prospectus to the SEC, confirming that it will be listed on NASDAQ under the code \"SKHY,\" with a maximum cornerstone investment intention of $7 billion. The funds raised are intended for expansion in South Korea and the purchase of EUV lithography machines, providing sentiment catalysts for the semiconductor equipment sector. The company plans to determine the IPO price on July 9 and officially list on the 10th, with a potential fundraising scale of approximately $27.2 billion" datetime: "2026-07-06T23:40:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291852757.md) - [en](https://longbridge.com/en/news/291852757.md) - [zh-HK](https://longbridge.com/zh-HK/news/291852757.md) --- # SK Hynix updates its US IPO prospectus, semiconductor equipment leaders respond **Financial Associated Press, July 7 (Editor: Shi Zhengcheng)** On Monday, local time in the United States, storage super stock SK Hynix submitted a revised prospectus to the U.S. Securities and Exchange Commission, providing fresh "ammunition" for the rebound of semiconductor equipment leaders. The latest prospectus confirms that **SK Hynix will issue 17,790,000 shares of common stock corresponding to American Depositary Shares (ADS), with each share of common stock corresponding to 10 ADS, totaling 177,900,000 ADS.** The company will be listed on the Nasdaq Stock Exchange under the code "SKHY." ### (Source: SEC, SK Hynix) Based on the closing price of SK Hynix's Korean common stock at 2,343,000 KRW on Monday, the corresponding dollar value is $1,529. If this price is used as a reference, each ADS is valued at $152.9, with a potential fundraising scale of approximately $27.2 billion. Rumors indicate that SK Hynix plans to determine the IPO price on Thursday (July 9) and officially list on Friday (July 10). SK Hynix stated that the final ADS issuance price will be "determined through negotiations between the company and the underwriters," taking into account the last transaction price of the Korean common stock before pricing, market conditions, and other factors. This means there are three trading days left for Korean stocks before the issuance price is determined. **A $1 increase or decrease in the price of each ADS will change the fundraising amount by $177.9 million.** Since July, SK Hynix has fallen by 11.58%, mainly affected by last week's Meta "selling computing power" incident. ### (SK Hynix daily chart, Source: TradingView) The latest prospectus also reveals the situation of cornerstone investors. **Baillie Gifford, Coatue Management, and the phenomenal Wall Street institution this year, managed by 00s fund manager Leopold Aschenbrenner, are interested in purchasing up to $7 billion of ADS at the IPO price.** Regarding the "free conversion of U.S. stocks/Korean stocks" issue that arbitrage traders are concerned about, the latest prospectus still presents an ambiguous picture. This issue also corresponds to whether SK Hynix stocks traded in the U.S. market will be priced at a premium compared to Korean common stocks. The prospectus states: ADS holders can return ADS and withdraw the underlying common stock; common stock holders can also deposit shares with the Korean custodian to obtain ADS. However, when the custodian accepts the deposit of common stock and issues ADS, it may need to obtain prior consent from SK Hynix, and if it exceeds the limits set by laws, regulations, the company's articles of association, or the company from time to time, the custodian cannot unconditionally accept the deposit The prospectus also warns that **if investors return ADS and withdraw common stock, they may not be able to redeposit these common stocks to obtain ADS again**. **ASML reacts swiftly** According to reports from multiple media outlets, SK Hynix's prospectus seems to have boosted the rally of semiconductor equipment leaders on Monday. As of the time of publication, ASML, the leader in lithography machines, has risen over 4%. SK Hynix stated that the funds raised will mainly be used for two purposes, including capital expenditures of 45.5 trillion won (approximately RMB 201.7 billion) for building production facilities in South Korea, and **11.9 trillion won (approximately RMB 52.76 billion) for purchasing EUV lithography machines**. For the portion exceeding the net proceeds from this issuance, the company will make up the difference through cash flows generated from operations and other sources. ### (Source: SEC, SK Hynix) Hynix expects to **receive these EUV lithography machines by December 2027**. Currently, ASML remains the only company in the world capable of mass-producing EUV lithography machines. It is important to emphasize that the related expenditure plans are not disclosed for the first time; the plan to purchase lithography machines has been publicly mentioned at least since the end of March this year, but the imminent completion of large fundraising by the "financial backers" seems to be the reason for the new round of market excitement ### Related Stocks - [07709.HK](https://longbridge.com/en/quote/07709.HK.md) - [03121.HK](https://longbridge.com/en/quote/03121.HK.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [ASML.US](https://longbridge.com/en/quote/ASML.US.md) ## Related News & Research - [China's memory chip gap with Samsung, SK Hynix narrowed to under three years: Counterpoint](https://longbridge.com/en/news/291877376.md) - [The IPO Buzz SK Hynix (SKHY) Launches $28.13B U.S. Offering – NASDAQ Uplisting](https://longbridge.com/en/news/291821940.md) - [Nvidia supplier SK Hynix prepares for large-scale US market debut](https://longbridge.com/en/news/291571949.md) - [Should you buy the Roundhill Memory ETF before July 10?](https://longbridge.com/en/news/291834126.md) - [Bank of Korea warns Samsung, SK Hynix leveraged ETFs risk volatility](https://longbridge.com/en/news/291729434.md)