SK Hynix shares jumped nearly 13% in Seoul trading on Thursday after the company announced plans to raise approximately $29.4 billion through a listing of American depositary receipts on the Nasdaq.
The move marks one of the largest capital raises in the semiconductor industry, as the memory chip giant seeks to fund expansion amid surging demand for high-bandwidth memory (HBM) used in AI data centers.
This development follows earlier reports that SK Hynix had confirmed the Nasdaq listing strategy, with shares initially rising 11% on the news.
The stock rally extended beyond SK Hynix, lifting the broader South Korean semiconductor sector as investors interpreted the listing as a vote of confidence in the company’s growth trajectory.
The company filed to issue 17.79 million new shares, aiming to tap into deeper US liquidity pools and broaden its investor base ahead of what it expects to be a period of intense capital expenditure.
This development follows earlier reports that SK Hynix had confirmed the Nasdaq listing strategy, with shares initially rising 11% on the news.
The decision to list in the US underscores the strategic importance of the American market for Korean chipmakers, particularly as competition intensifies in the memory segment driven by artificial intelligence infrastructure buildouts.