SK Hynix, South Korea's leading semiconductor manufacturer, plans to issue 17.79 million new shares valued at 45.45 trillion won ($29.65 billion) in a bid to list on the Nasdaq starting July 10, although this date is tentative. The company believes that this ADR listing will help broaden its investor base and allow for a more accurate valuation of its corporate worth.
SK Hynix is responding to the increasing demand for artificial intelligence technologies by expanding its operations, including the construction of a significant memory chip fabrication campus in South Korea, known as the Yongin Cluster, which is expected to begin operations in 2027.
Additionally, the company is investing $4 billion in a new packaging plant in Indiana, marking its first manufacturing venture in the U.S. Major banks such as BofA Securities, Citigroup Global Markets, Goldman Sachs, and JP Morgan Securities are managing the offering, indicating strong institutional support for this capital raise