SK HYNIX PLANS NASDAQ LISTING TO RAISE $29 BILLION

SK Hynix announced on Wednesday that it intends to issue American depository receipts listed on the Nasdaq exchange. According to Bloomberg, the South Korean memory-chip manufacturer is seeking to raise 45.45 trillion won, equivalent to approximately $29.4 billion, through the offering. The move will provide American investors with direct access to SK Hynix shares traded on a US exchange.

SK Hynix is one of three major memory-chip manufacturers. The company has experienced significant growth in valuation as demand for artificial-intelligence applications has increased, according to MarketWatch. The capital raised through the depository receipt offering is intended to fund expansion related to the AI sector. American depository receipts allow foreign companies to list shares on US exchanges in a format accessible to domestic investors.

The listing represents SK Hynix's strategy to tap US capital markets during a period of heightened demand for semiconductor manufacturing capacity. No further timeline for the listing process was disclosed in the available statements. The offering would mark a significant expansion of the company's presence among American institutional and retail investors.