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AI Chips · Nasdaq IPO · Semiconductor Investment · SK Hynix
SK Hynix plans to list American Depositary Receipts (ADRs) on the Nasdaq Stock Market on July 10, aiming to raise up to 45.5 trillion won ($33 billion) to finance a significant expansion of its artificial intelligence chip production capacity.
The Korean memory chipmaker's board approved the issuance of ADRs backed by newly issued common shares. Proceeds will fund key semiconductor projects, including the first fabrication plant at the Yongin semiconductor cluster, the P&T7 advanced packaging facility in Cheongju, and additional investments in chip equipment and infrastructure.
SK Hynix will issue up to 17.79 million new common shares, representing about 2.5 percent of its outstanding shares, through a third-party allotment to an overseas depositary institution. The institution will then issue ADRs to overseas institutional investors.
The final offering size and price will be determined through bookbuilding, which begins July 7. Pricing, underwriting agreements, and the Nasdaq debut are set for July 10, with settlement on July 14.
An SK Hynix official stated the listing diversifies its investor base and achieves a valuation reflecting corporate value, strengthening its global presence in the US AI innovation hub.
SK Hynix Lists Nasdaq, Raises $33 Billion for AI(current)
