SK Hynix Eyes $29 Billion Expansion via Nasdaq ADR Launch

South Korea's SK Hynix plans to raise 45.45 trillion won (about $29 billion) through American Depository Receipts on Nasdaq. The funds aim to boost chip production for AI, developing a factory in Yongin and packaging fab in Cheongju. Plans include purchasing advanced chipmaking equipment.

In a strategic move to bolster its presence in the semiconductors industry, South Korea's SK Hynix has announced intentions to raise an ambitious 45.45 trillion won, equivalent to $29.43 billion, through listing American Depository Receipts (ADRs) on the Nasdaq.

The company plans to issue 17.79 million new shares, targeting a listing date of July 10. SK Hynix aims to leverage the huge capital influx to expand both its investor base and its infrastructure for chip production, particularly for artificial intelligence applications.

The proceeds will finance critical expansions, including the construction of a chip factory in Yongin and an advanced packaging facility in Cheongju, with investments in essential chipmaking equipment such as an Extreme Ultraviolet Scanner (EUV). The final amount raised might vary post bookbuilding, according to regulatory specifics.