SK Hynix has filed to list American depositary receipts on the Nasdaq, aiming to raise approximately $29.6 billion (45.45 trillion won) through the issuance of 17.79 million new shares.
The filing marks one of the largest initial public offerings in US history and signals the South Korean memory chipmaker’s intent to deepen its capital ties with American investors.
The move comes as SK Hynix, the world’s second-largest semiconductor manufacturer after Samsung, seeks to bolster its balance sheet amid intense competition in the memory chip market.
The company, which is South Korea’s most valuable listed firm, has been expanding its production capacity for high-bandwidth memory (HBM) chips, critical for artificial intelligence applications.
According to Naftemporiki, the listing will allow SK Hynix to tap into deeper US liquidity pools and potentially attract a broader base of institutional investors.
The filing does not yet specify a timeline for the offering, but the scale of the raise underscores the company’s confidence in its growth trajectory.