NEWS

Paul Hastings Advises on Largest-Ever US IPO by an Asia Issuer, SK hynix’s $26.5 Billion Nasdaq Listing

July 09, 2026

New York, Seoul - Paul Hastings LLP advised BofA Securities, Citigroup, Goldman Sachs and J.P. Morgan as underwriters in SK hynix’s (Nasdaq: SKHY) record-breaking $26.5 billion public offering and listing of 177,900,000 American Depositary Shares (ADSs) at a price of $149.00 per ADS on the Nasdaq Global Select Market. The transaction is expected to close on July 14, 2026, subject to customary closing conditions.

The offering is the largest-ever U.S. IPO by an Asia issuer, exceeding Alibaba’s $25 billion IPO in 2014. It is also the largest ADS offering in history and one of the largest global equity offerings on record. SK hynix’s $1 trillion-plus market capitalization at IPO is the third largest ever, behind only SpaceX and Saudi Aramco.

SK hynix is one of the world’s leading memory semiconductor companies and engages in the design, manufacture and sale of advanced memory semiconductors.

Corporate partners Iksoo Kim, Dong Chul Kim, Gil Savir and Brandon Bortner and of counsel Ryan Brewer led the cross-border Paul Hastings team, which also included of counsel Jacqueline A. May, associates Sye Myung Kim, Jiajun Lu and Michelle Sidle and corporate attorney Hee Jin Woo. Corporate partner Dan Hirschovits and associate James Lansdown of Paul Hastings' London office, as well as partner Sarah Gagan and associates Howard Glucksman and Katelyn (Katie) Katsuki of the firm's Technology Transactions Group, provided valuable assistance. Public Company Advisory partner Brad Bondi advised on governance matters.

More details can be found here.

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