SEOUL — South Korean memory chipmaker SK Hynix has filed to raise up to 45.45 trillion won ($29.4 billion) through the issuance of American depositary receipts (ADRs) for a planned Nasdaq listing, targeting a U.S. market debut in July, according to regulatory filings by the company.
The company said the offering is intended to finance investments in semiconductor manufacturing facilities and equipment as it expands production to meet demand for advanced memory chips used in artificial intelligence systems. The ADRs are scheduled to begin trading on the Nasdaq Global Select Market on July 10, although the timetable remains subject to completion of the offering process and final pricing.
SK Hynix said it plans to issue 17.79 million new common shares, with 10 ADRs representing one common share. The final size of the offering will be determined after bookbuilding, the company said in its filing.
The proposed fundraising would rank among the largest equity offerings and ADR issuances on record if completed at the indicated size, reflecting strong investor interest in companies tied to the global AI infrastructure boom.
The company announced earlier this year that it intended to pursue a U.S. listing to broaden access to international investors and increase its presence in global capital markets. Proceeds from the offering are earmarked for production expansion, including fabrication facilities, advanced packaging capacity and purchases of extreme ultraviolet lithography equipment, according to company disclosures.
SK Hynix said pricing and the final number of securities to be sold will be confirmed following the bookbuilding process, with the proposed July Nasdaq debut remaining subject to customary closing conditions.
