South Korean semiconductor giant SK Hynix is launching a Nasdaq listing of American Depositary Receipts expected to raise $28 billion to expand its AI-focused memory chip production capacity.
Key Points
- SK Hynix will offer 17.79 million new shares, with ten ADRs representing one common share.
- Proceeds will fund new South Korean chip factories and the purchase of ASML extreme ultraviolet scanners.
- The final share price is scheduled for release on Thursday, with trading expected to begin this Friday.
- This $28 billion offering ranks as the second-largest share sale in history, trailing only the recent SpaceX IPO.
- The company has seen its stock value rise 273% this year due to high demand for AI-related memory hardware.