SK Hynix's $29 Billion U.S. Bet

South Korea's SK Hynix plans to raise 45.45 trillion won through listing American Depository Receipts in the U.S. This move aims to expand their investor base and boost production capacity for chips used in artificial intelligence. However, the final amount might change post bookbuilding.

SK Hynix, a leading South Korean chipmaker, announced plans to raise 45.45 trillion won, equivalent to $29.43 billion, via the listing of American Depository Receipts in the United States.

The initiative is part of SK Hynix's strategy to widen its investor base as well as enhance its production capabilities, particularly for chips used in the rapidly growing artificial intelligence sector.

According to the regulatory filing, the final fundraising amount remains subject to change following the bookbuilding process. Notably, the current conversion rate stands at $1 to 1,544.1400 won.