SK Hynix Poised for Record ADR Offering with AI Chip Expansion

South Korea's SK Hynix plans to raise up to 45.45 trillion won through an ADR listing on Nasdaq to expand its AI chip production. The proceeds will fund new factories and equipment. If completed at the top price range, it could be the largest-ever ADR offering, surpassing Alibaba's 2014 debut.

South Korean semiconductor giant SK Hynix announced plans to raise up to 45.45 trillion won ($29.43 billion) through the listing of American Depositary Receipts (ADRs) on the Nasdaq, illustrating its strategic move to bolster its position in the artificial intelligence chip market.

The company aims to issue 17.79 million new shares, with proceeds earmarked for constructing a new chip factory in Yongin, developing advanced packaging facilities in Cheongju, and acquiring chipmaking equipment including an Extreme Ultraviolet Scanner.

If realized at the upper limit of its price range, this deal will eclipse Alibaba's 2014 New York debut in terms of size, marking it as the largest-ever ADR offering. As one of the leading suppliers of high-bandwidth AI memory chips, SK Hynix is capitalizing on the AI industry's rapid growth.