SK Hynix Seeks to Raise About $29 Billion in U.S. Listing
By Kimberley Kao
South Korea's SK Hynix plans to raise more than $29 billion through a U.S. listing, seeking to tap foreign investors to fund its expansion plans as the artificial-intelligence boom fuels a rush for advanced chips.
The world's second-largest memory chip maker is looking to raise 45.453 trillion won, equivalent to $29.65 billion, by issuing American depositary receipts on the Nasdaq market, according to a regulatory filing to the Korea Exchange on Wednesday. The company expects trading to begin July 10.
The deal would be one of the biggest share sales in history, comparable to Saudi Aramco's 2019 initial public offering and surpassing Alibaba's U.S. ADR offering in 2014.
SK Hynix has been a key beneficiary of AI-driven chip demand as companies continue to pour billions into building out global AI infrastructure.
Shares of SK Hynix have surged about 300% this year, becoming the second South Korean company to cross the $1 trillion market-value threshold after Samsung Electronics.
SK Hynix, a key supplier of high-bandwidth-memory products used in Nvidia's AI accelerators, in April posted a fivefold jump in quarterly net profit on surging demand.
BofA Securities, Citigroup Global Markets, Goldman Sachs and J.P. Morgan Securities are leading the offering.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
June 24, 2026 07:05 ET (11:05 GMT)
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