SK Hynix approves Nasdaq listing via new ADRs, targeting up to $29.5B
What's the deal? SK HynixDealroom has a profile for this one. Try Dealroom → has approved a Nasdaq listing through new American Depositary Receipts (ADRs), aiming to raise up to 45.45 trillion won (about $29.5 billion).
The Korean chipmaker's board resolved on June 24 to issue up to 17.79 million new shares, deposited with an overseas institution and allocated to foreign investors. Each ADR equals 0.1 common shares.
The listing is set for July 10, with the new share listing scheduled for July 29. BofA Securities, Citigroup Global MarketsDealroom has a profile for this one. Try Dealroom →, Goldman Sachs Asia, and JP Morgan Securities are lead underwriters.
Why now? Every won raised will fund facility investment, as SK Hynix races to expand capacity amid surging AI-driven memory demand.
The money targets construction at the Yongin semiconductor cluster's first fab, the Cheongju P&T7 advanced packaging fab, and machinery including EUV scanners.
What could go wrong? The headline figure is only a reference, based on the closing price of 2.555 million won on June 23 applied to the maximum share count.
The final issuance price and total will be set through a book-building process with overseas institutions, meaning the actual sum could land lower if demand softens.
The signal: A direct Nasdaq listing by a mature South Korean memory giant — rather than tapping domestic markets — shows how the scale of capital needed for leading-edge fabs now pushes even established players toward US investors. As a global leader in DRAM and NAND flash, and a critical supplier of the high-bandwidth memory feeding AI accelerators, SK Hynix is betting that overseas institutions will underwrite the tens of billions required to keep pace with demand.
Read more: Infomax
Image credit: Generated with Gemini
