Overview
- SK Hynix filed to offer 177.9 million American depositary shares on Nasdaq and is targeting about $28 billion in net proceeds with trading expected to begin July 10.
- The company disclosed a confirmed commitment of roughly 11.9 trillion won, about $8.6 billion, to buy ASML extreme ultraviolet lithography scanners with delivery expected by December 2027.
- ASML is the sole commercial supplier of EUV tools and its next‑generation systems are reported to cost about $400 million each, a pricing and supply backdrop that pushed ASML shares up roughly 4% after the filing.
- The plan faces clear execution risks from equipment scarcity, long ASML qualification cycles, complex fab builds and yield ramps, plus regulatory limits on sales into China and a flagged Beneish M‑Score of -0.94.
- If completed, the raise would widen U.S. investor access and fund SK Hynix’s capacity expansion, but outcomes will hinge on underwriter demand, timely tool deliveries and the company’s ability to ramp production and yields.