SK Hynix launches $28 billion Nasdaq depository receipt listing
South Korea's SK Hynix is launching a roughly $28 billion depository receipt listing on Nasdaq by selling 17.79 million new ADRs, with ten ADRs representing one common share and pricing tied to its Seoul trading price. The final New York price will be set on Thursday, with trading due to begin on Friday after a global investor roadshow. The move comes as SK Hynix has outperformed major rivals with shares up about 273% this year amid surging AI demand, and follows a recent pledge to invest 100 trillion won to build new chip plants.
SK Hynix to raise about $28 billion through Nasdaq ADRs
Context
Global demand for AI chips has pushed SK Hynix shares sharply higher. The company now seeks U.S. capital via ADRs. Next steps are investor roadshows, final pricing, and the Nasdaq trading start.
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